UBS say that they look for the AUD and NZD to continue thriving

  • while CAD to underperform

The bank likes the AUD and NZD

  • likely to continue to do well
  • boosted by buoyant global growth and commodity price
  • we remain bullish on both

But, for CAD, on the other hand, should remain a relative underperformer, due to

  • valuation concerns
  • headwinds for both growth and inflation
  • and an aggressively priced Bank of Canada