Loonie could end 2022 at 77 cents; but it could also fall to 73 cents in 2023: Karl Schamotta
Karl Schamotta, chief market strategist at Corpay, joins BNN Bloomberg for his view on the loonie following Tiff Macklem's latest commentary, in which the BoC's governor reiterated the bank's hawkish stance. Schamotta added the USD appears to have peaked back in September, which could lead the CAD to rally to 77 cents. However, he also warned the fundamentals within the economy don't support a high valuation for the loonie. Watch the BNN Bloomberg video here.