Michael Gregory Commodity Quotations

But against the backdrop of improvements in commodity prices, the fact the Canadian dollar has been rallying and the long end of the market had already priced it in, they thought, 'Listen, our rates should be below U.S. rates. Our inflation is lower and we're well behind in the economic cycle.'

The Canadian currency is considered a commodity currency. When commodities prices are up, investors tend to have exposure to the currency.

I'd thought they wouldn't want to sort of venture there again, given that all is not perfect on the commodity price front,

All is not quiet on the inflation front. Commodity prices and capacity constraints still pose some inflation risks.