1613 GMT - The Canadian dollar could weaken against the U.S. dollar in the short term on the Federal Reserve's more cautious stance on interest-rate cuts compared to the Bank of Canada, Commerzbank analyst Michael Pfister says in a note. "Our economists no longer expect the Fed to cut interest rates twice in the first half of the year, but rather to postpone these cuts until the turn of the year." However, the BOC is likely to finish its policy easing cycle soon with a final rate cut in April. This will help the Canadian dollar recover on a sustained basis from early summer. Commerzbank expects USD/CAD to rise to 1.44 by March, from 1.4227 currently, before falling towards 1.38 by December. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 11:13 ET (16:13 GMT)
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