Sell the loonie if it rises on Wednesday advises CIBC

Sell the loonie if it rises on Wednesday advises CIBC

Sell the loonie if it rises on Wednesday advises CIBC The Bank of Canada announces its interest rate decision and monetary policy report on Wednesday; a combination that could include triggers to send the Canadian dollar higher. In that case, CIBC says sell it. With non-energy exports a key factor in growth for the BoC and that sector needing a lower loonie CIBC’s chief economist Avery Shenfield says that it would be better to sell if the currency increases rather than bet on short-rate futures.