CIBC wins by reinforcing bullish USD view

The bank still expects the BoE to hike ahead of the US Fed

forecasts

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The Canadian Imperial Bank of Commerce (CIBC) topped last week's one-month currency forecast charts by strengthening its bullish USD view and anticipating further easing by the European Central Bank (ECB) as a result of persistent disinflationary pressure.

Jeremy Stretch, head of FX strategy at CIBC, says a key assumption was that the ECB would resort to expanding its balance sheet again, as part of the easing measures it announced on September 4. The ECB is

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