TORONTO - The meteoric rise of the Canadian dollar this week may turn out to be a flash-in-the-pan rally, but at least one leading economist thinks it may have staying power.
Aron Gampel, deputy chief economist at Scotiabank, said Wednesday that it`s necessary to look behind the headlines into factors that will influence the strength of the Canadian currency in the coming months and even years.
And against that backdrop, Gampel says even the prospect of a return to parity between the Canadian loonie and the American greenback is "not farfetched."
"I would not say that parity is out of the question. In fact I would say its probably closer to reality," he said in an interview with The Canadian Press.
While cautioning that parity is something "down the road as opposed to tomorrow," Gampel sees many economic signs that the loonie will gain against its U.S. counterpart.
Read the full article here.
Aron Gampel, deputy chief economist at Scotiabank, said Wednesday that it`s necessary to look behind the headlines into factors that will influence the strength of the Canadian currency in the coming months and even years.
And against that backdrop, Gampel says even the prospect of a return to parity between the Canadian loonie and the American greenback is "not farfetched."
"I would not say that parity is out of the question. In fact I would say its probably closer to reality," he said in an interview with The Canadian Press.
While cautioning that parity is something "down the road as opposed to tomorrow," Gampel sees many economic signs that the loonie will gain against its U.S. counterpart.
Read the full article here.