# Canadian dollar to strengthen as BoC moves 'aggressively' on rate hikes

> A Reuters poll found the Canadian dollar expected to strengthen 0.4% to 1.26 per US dollar in three months and to 1.23 in a year. Forecasters cited high commodity prices and aggressive Bank of Canada rate hikes.

- Date: 2022-06-02 · published 2022-06-02T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/41177-canadian-dollar-to-strengthen-as-boc-moves-aggressively-on-rate-hikes
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Currency forecasts signal a firmer loonie, which can make Canadian canola and other exports slightly dearer on world markets; the impact on feed prices is limited.

## Read by commodity

- USDCAD: bearish ▼
- CANMEAL: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/canadian-dollar-strengthen-boc-moves-aggressively-rate-hikes-2022-06-02/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.