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Scotiabank Predicts Stronger CAD, Weaker USD by 2027

11/16/2025

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Summary

Story summary

The USD/CAD rate was around 1.4025, with Scotiabank forecasting a fall to 1.33 by 2026 and 1.30 by 2027 as Canadian fundamentals strengthen.
The USD/JPY rate rose to 154.04, with the Canadian Imperial Bank of Commerce (CIBC) forecasting 156 by Q4 2025 due to dovish comments from Japan's Prime Minister and fiscal expansion.
The New Zealand dollar is set to strengthen against the USD due to improving domestic activity.

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Story summary

The USD/CAD rate was around 1.4025, with Scotiabank forecasting a fall to 1.33 by 2026 and 1.30 by 2027 as Canadian fundamentals strengthen.
The USD/JPY rate rose to 154.04, with the Canadian Imperial Bank of Commerce (CIBC) forecasting 156 by Q4 2025 due to dovish comments from Japan's Prime Minister and fiscal expansion.
The New Zealand dollar is set to strengthen against the USD due to improving domestic activity.