The Canadian dollar has been the impact of the price action in the oil market and the Bank of Canada’s decision on monetary policy, the bank said Tokyo-Mitsubishi UFJ (BTMU).

Recovery of oil prices helped the CAD. As well, the Canadian dollar has reinforced the decision the Bank of Canada to refrain from easing monetary position on the market contrary to expectations.

… Given that oil prices will go down in the current quarter, we maintain our view CAD gradual recovery during the quarter to the end of the year

BTMU target of USD / CAD at 1.37 at the end of the 3rd quarter and to 1.33 by the end of of the year.

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