Posted AT 8:51 AM EDT on 08/07/08
Undervalued loonie set to rise, economists say
OTTAWA — The Canadian dollar is undervalued and poised to strengthen, two leading economists say.
“The loonie has ignored oil over $140 (U.S.), a telecom M&A deal go-ahead, and a Bank of Canada move from dovish to neutral,” said Avery Shenfeld, economist at CIBC World Markets. “But a likely delay in Fed tightening until post-election opens the door for a stronger Canadian dollar ahead.
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