FXStreet reports that as polls show a potential majority for the current Prime Minister Justin Trudeau, economists at ING expect the Canadian dollar to take advantage of it.

“Trudeau’sparty has seen a rebound in popularity during the pandemic and latest polls suggest it could reach the 170 parliament seats needed for a majority government at the September elections. This should be generally good news for CAD, especially if investors expect Trudeau to secure a majority in the parliament, although the magnitude of the FX impact should not be very significant.”

“We continue to expect, by year-end, to see the end of QE in Canada, and to see USD/CAD trade close to 1.20.”