Experts say the next few months are going to be rough for the Canadian dollar as it appears set to continue its downward trend.
“We do have more room to fall,” said Karl Schamotta, chief market strategist at Corpay.
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The Canadian dollar has been trading below 70 cents US in recent weeks and is nearly four per cent below where it was in September.
Schamotta predicts the coming months will be “a very turbulent period for Canada” as uncertainty stemming from incoming U.S. president Donald Trump’s policy proposals weigh on business investment and consumer confidence — which means a weaker loonie in the short term.
However, that’s not the only factor at play.
The outperforming U.S. economy, which is pushing U.S. yields higher — well above yields in Canada — …