Good news for local retailers, perhaps.
Bad new for cross-border shoppers.
A new report by TD Bank says the value of the Canadian Loonie relative to the U.S. dollar will fall to around 90 cents by early next year.
“We now anticipate the Loonie to trend materially lower over the next year, dropping to as low as 90 U.S. cents in early
2014,” the report, which was published Thursday, reads in part.
“This is a function of several factors, chief among them being concerns regarding Canada’s medium-term economic fortunes, a downward revision to our expectation for commodity prices and a strengthening US dollar outlook.”
To read the full report click HERE.