The Canadian Dollar is a sell with strategists at CIBC Bank who note market positioning is unsupportive and incoming Canadian economic data is likely to disappoint. CIBC's Capital Markets division also says a trade recommendation to sell the Canadian Dollar comes on a view that the ongoing rise in oil prices is proving unsupportive of what has traditionally been referred to as a commodity currency, owing to Canada's notable oil exports. "The backdrop in Canada looks weaker," says Bipan Rai, Head of FX Strategy at CIBC Capital Markets. "The BoC admitted last week that a period of weaker growth is to be expected given ... (full story)