Analysts clip their bullish Canadian dollar forecasts as economy weakens- Reuters pol

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The Canadian dollar is set to strengthen less than previously expected over the coming year once a slowdown in the domestic economy opens the door to Bank of Canada interest rate cuts, a Reuters poll found. "They will probably cut pretty meaningfully next year," said Erik Nelson, a macro strategist at Wells Fargo Securities in London. The median forecast of 36 foreign exchange analysts surveyed Nov. 3-7 was for the Canadian dollar to strengthen 2.3% to 1.345 per U.S. dollar in three months, compared with 1.340 in an October poll.