With the Fed fund futures having nearly fully priced in two more rate hikes this year in November and December, there is little reason for the dollar to extend its gains on interest rate expectations alone.
More Quotes from Jeremy Friesen:
The rift, if not civil war, within the Liberal party also presents an almost Herculean task for any new leader.Jeremy Friesen
(There was) confusion about what the heck they meant. The market thought it was good (for the U.S. dollar), then they had second thoughts about it.
Jeremy Friesen
The narrowing of deficit obviously helped the U.S. dollar rally across the board. There is more indifference about the Canadian number. We are seeing people buying the U.S. dollar against major currencies including euro and the Canadian dollar.
Jeremy Friesen
Most of the gains came from part-time employment. That pulled down the Canadian dollar. People are less bullish.
Jeremy Friesen
The more experienced and representative Conservative cabinet makes the Conservative minority government appear more stable than feared, while the problems with the Liberal Party suggest that the Liberals will provide a weak opposition, unable or willing to force an election soon.
Jeremy Friesen
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