FX : USD/CAD: Dollar could drop to 1.0 in 12 months - UBS
FXsttret.com (Barcelona) - Dollar decline from levels around 1.1150 on mid August reached on Monday a fresh 2-weeks low at 1.0725, on the back of better than expected Canadian Retail sales, although the pair picked up afterwards to test levels at 1.0800 during European morning session.
Accoring to the UBS Bank's Wealth Management Research Team, the Canadian Dollar will continue its recovery, supported by Canadian economy which seems to be coming out of recession: "The Canadian economy seems poised to emerge from recession. We keep our positive view on the Canadian dollar and expect USDCAD to drop to 1.0 in 12 months."
