1305 ET - Recent strength in the Canadian dollar is "nothing short of a mirage," buoyed by broad-based U.S. dollar weakness, say strategists at Rosenberg Research. USDCAD hit an 8-month low this week, falling below C$1.37, after reaching a 10-year peak at C$1.45 in January. The Canadian market strategy firm notes that, year to date, CAD remains one of the weakest performers against USD among G10 economies. "There is nothing fundamental to the move in CAD," the firm tells clients, noting that Canada is plagued with weak productivity and mired in a per-capita GDP recession. Further, private-sector employers have shed jobs over the last two months, and the unemployment rate is poised to surpass 7%. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

May 28, 2025 13:05 ET (17:05 GMT)

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