Canadian banks remain bullish, despite CAD weakness

canada

Several G-10 currencies took dramatic changes of course during May, with the sharp fall in EUR/USD from 1.32 to 1.23 between May 1 and May 31 ranking as the top concern for many currency traders. But the Canadian dollar also took a turn for the worse. Having strengthened steadily during the first four months of the year, USD/CAD rose from 0.99 on May 1 to reach 1.04 on May 31, according to data from Thomson Reuters.

Canadian banks are not concerned by the recent weakness in the Canadian dollar

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