Home Economy Canadian Dollar Goes to the Moon in Morgan Stanley’s 2022 Forecasts

Canadian Dollar Goes to the Moon in Morgan Stanley’s 2022 Forecasts

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  • CAD tipped for a second year of outperformance in 2022
  • Seen pushing USD/CAD to lowest since 2014 by year-end
  • Strength seen pushing GBP/CAD near financial crisis low

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The Canadian Dollar is likely to reach its strongest level against the U.S. Dollar since 2014 next year, according to Morgan Stanley forecasts that would see GBP/CAD falling to its lowest since the years immediately after the financial crisis of 2008 and the Loonie strengthening against a raft of other currencies.

Canada’s Dollar remained the top performer among major currencies on Thursday and by a comfortable margin too in the case of all but the Chinese Renminbi after the Loonie eked out almost a one percent gain over a U.S. Dollar that was otherwise a widespread winner for the year.

The Canadian Dollar and Renminbi were the last major currencies still standing on Thursday following an onslaught by a U.S. Dollar that demolished all others in its path during the…

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