(Bloomberg) -- The Canadian dollar may extend a
rally to a 17-year high of 120 yen this quarter as a
strengthening economy and rising interest rates attract
investment, said Takahisa Odaka at Nomura Securities Co.
The Bank of Canada will lift the overnight rate by a
quarter percentage point to 4.5 percent tomorrow, increasing the
appeal of the nation's assets, according to all but one of 29
economists surveyed by Bloomberg News. Commodity demand from
China and other nations helped drive Canada's dollar to the
highest since 1977 against the U.S. currency last week. Raw
materials make up more than half of the nation's exports.
Read more at Bloomberg Currencies News
rally to a 17-year high of 120 yen this quarter as a
strengthening economy and rising interest rates attract
investment, said Takahisa Odaka at Nomura Securities Co.
The Bank of Canada will lift the overnight rate by a
quarter percentage point to 4.5 percent tomorrow, increasing the
appeal of the nation's assets, according to all but one of 29
economists surveyed by Bloomberg News. Commodity demand from
China and other nations helped drive Canada's dollar to the
highest since 1977 against the U.S. currency last week. Raw
materials make up more than half of the nation's exports.
Read more at Bloomberg Currencies News
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