Huge bearishness in USD lifting loonie. Expect currency volatility in 2024.
December 27, 2023
Karl Schamotta, chief market strategist at Corpay, joins BNN Bloomberg to discuss the loonie rising 4 cents since late October. Schamotta says the rally on the Canadian currency is driven by weakness in the USD amid rate cut expectations. Schamotta, sees currency volatility in 2024 and adds the prospect of a Trump presidency is likely to clobber risk-sensitive units toward the end of the year.