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This FX Guru Expects the Loonie to Weaken 20% by the End of Next Year

One of the most prominent currency-markets gurus says the Canadian dollar will plunge to levels not seen in more than 15 years as trade turmoil intensifies.

John R. Taylor, who formerly headed what was then the world’s biggest currency hedge fund, says his analysis of statistical patterns projects the loonie to weaken about 20 percent to C$1.60 per U.S. dollar by the end of next year. It hasn’t been that weak since August 2002. Canada’s currency looks bleak by the charts and given the potential hit to the nation’s exports as President Donald Trump tinkers with Nafta and announces tariffs on metals.