Loonie Bears Aren't Nearly Bearish Enough, Morgan Stanley Says

  • Bank joins Macquarie calling for currency to fall to C$1.45
  • Cheaper Canadian dollar would bolster exports, manufacturing

Almost no one -- from the Bank of Canada, to currency traders to Wall Street prognosticators -- grasps how far the Canadian dollar must fall to revive the nation’s economy after the collapse in oil prices, according to Morgan Stanley.

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