Canadian bank CIBC forecasts the Canadian dollar will return to parity in 2014.
While normal volatility will likely see it weaken another cent of two from time to time this year, the bank views to current bout of softness as a buying opportunity ahead of likely appreciation in 2014.
Economists forecasting FX moves are the ultimate Monday morning quarterbacks. In December, CIBC was forecasting USD/CAD at 0.9800 at the start of Q3, falling to 0.9700 by the end of the quarter.
