|Canada’s national anthem celebrates “the true north, strong and free”. And, if not exactly free, its currency is also a lot cheaper than it was. Yesterday, the Canadian dollar, the loonie, weakened to more than C$1.10 to the US dollar for the first time since 2010, after falling 17 per cent in less than three years.
The bet against the loonie looks crowded, but it is only one of a group of widely disliked investments that include the Australian dollar, emerging markets and mining shares. All are fuelled by commodities, and it has become received wisdom that the commodity supercycle – a decade in which prices soared – is over...................................Full Article: Source