(Bloomberg) --The Canadian dollar may reach parity
with the U.S. currency within three months as surging growth
raises expectations for higher interest rates, according to
Citigroup Inc., the world's biggest bank.
Canada's dollar touched a 30-year high today after a report
showed May retail sales rose at the fastest pace in almost a
decade, bolstering speculation the Bank of Canada will keep
boosting its target rate from 4.5 percent, enticing global
investors to buy the country's assets. The Canadian dollar has
gained about 11 percent against the U.S. currency this year.
Read more at Bloomberg Currencies News
with the U.S. currency within three months as surging growth
raises expectations for higher interest rates, according to
Citigroup Inc., the world's biggest bank.
Canada's dollar touched a 30-year high today after a report
showed May retail sales rose at the fastest pace in almost a
decade, bolstering speculation the Bank of Canada will keep
boosting its target rate from 4.5 percent, enticing global
investors to buy the country's assets. The Canadian dollar has
gained about 11 percent against the U.S. currency this year.
Read more at Bloomberg Currencies News
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