By Garfield Reynolds
Aug. 5 (Bloomberg) -- Demand for the U.S. dollar is weakening as improved corporate earnings boosts appetite for riskier assets, RBC Capital Markets said.
“As risk sentiment improved, the U.S. dollar tumbled and it remains vulnerable to further declines in risk aversion,” David Watts, a senior currency strategist in Toronto at the unit of Canada’s biggest bank, wrote today in a note to clients.
RBC said the dollar’s rebound against the euro would peak at $1.38, from an earlier forecast for $1.33, and revised its year-end estimate for the Canadian dollar to C$1.09 from C$1.14.
To contact the reporter on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net
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