Chart 6: The Canadian dollar tends to follow its peers and the relative strength of the US dollar https://www.bankofcanada.ca/?p=244080 3M spread and carry Oil factor Dollar factor Global factors model Can$/US$ 0.000.000.000.000.00 0.080.020.460.560.02 0.080.020.460.560.02 0.080.020.460.560.02 0.150.000.500.660.36 0.13-0.020.420.530.66 0.03-0.020.410.410.83 0.06-0.020.670.701.02 0.07-0.020.810.861.06 0.07-0.020.810.861.06 0.07-0.020.810.861.06 0.03-0.030.730.720.96 0.01-0.021.051.031.23 0.06-0.041.241.261.17 0.02-0.031.091.081.05 0.11-0.041.391.461.45 0.11-0.041.391.461.45 0.11-0.041.391.461.45 0.10-0.031.821.891.75 0.18-0.031.942.091.85 0.15-0.031.932.052.04 0.09-0.041.601.651.89 0.21-0.042.212.372.70 0.21-0.042.212.372.70 0.21-0.042.212.372.70 0.17-0.042.102.222.84 0.17-0.042.122.253.16 0.20-0.051.852.002.88 0.15-0.051.761.872.85 0.13-0.021.611.722.84 0.13-0.021.611.722.84 0.13-0.021.611.722.84 0.13-0.021.611.722.84 0.17-0.011.251.422.36 0.18-0.011.441.612.70 0.170.001.691.872.71 0.210.001.581.792.27 0.210.001.581.792.27 0.210.001.581.792.27 0.200.011.201.402.30 0.260.001.101.361.92 0.27-0.011.211.472.18 0.31-0.011.571.872.14 0.36-0.021.872.212.16 0.36-0.021.872.212.16 0.36-0.021.872.212.16 0.37-0.022.022.372.10 0.32-0.021.982.282.01 0.28-0.032.012.261.97 0.24-0.032.292.502.30 0.25-0.052.282.492.25 0.25-0.052.282.492.25 0.25-0.052.282.492.25 0.26-0.062.062.272.43 0.28-0.052.492.723.25 0.18-0.062.252.372.84 0.22-0.062.662.813.00 0.26-0.062.732.932.68 0.26-0.062.732.932.68 0.26-0.062.732.932.68 0.22-0.062.502.662.55 0.25-0.082.132.302.81 0.20-0.071.982.112.73 0.22-0.081.681.822.33 0.17-0.071.441.532.21 0.17-0.071.441.532.21 0.17-0.071.441.532.21 0.24-0.061.271.441.85 0.24-0.061.201.381.65 0.22-0.071.021.171.19 0.24-0.081.031.200.96 0.25-0.071.161.350.85 0.25-0.071.161.350.85 0.25-0.071.161.350.85 0.21-0.050.931.090.57 0.21-0.050.730.890.72 0.16-0.060.600.700.89 0.15-0.050.520.620.57 0.18-0.050.660.790.59 0.18-0.050.660.790.59 0.18-0.050.660.790.59 0.13-0.060.300.370.31 0.12-0.070.300.360.41 0.14-0.06-0.010.070.27 0.15-0.060.230.320.14 0.12-0.060.000.06-0.08 0.12-0.060.000.06-0.08 0.12-0.060.000.06-0.08 0.11-0.06-0.020.04-0.11 0.09-0.05-0.11-0.08-0.29 0.08-0.05-0.07-0.05-0.22 0.12-0.06-0.020.04-0.42 0.10-0.06-0.31-0.26-0.45 0.10-0.06-0.31-0.26-0.45 0.10-0.06-0.31-0.26-0.45 0.16-0.06-0.010.08-0.19 0.16-0.070.180.260.37 0.01-0.08-0.66-0.73-0.46 0.08-0.060.010.020.10 0.06-0.06-0.51-0.51-0.17 0.06-0.06-0.51-0.51-0.17 0.06-0.06-0.51-0.51-0.17 0.03-0.06-0.99-1.02-0.36 -0.01-0.06-1.32-1.38-0.50 -0.03-0.06-1.48-1.57-0.88 -0.04-0.06-1.61-1.70-1.33 0.01-0.06-1.43-1.48-1.47 0.01-0.06-1.43-1.48-1.47 0.01-0.06-1.43-1.48-1.47 0.02-0.07-1.15-1.20-1.00 0.06-0.07-1.17-1.19-0.58 0.02-0.08-1.47-1.53-0.72 0.00-0.08-1.64-1.72-0.71 0.00-0.07-1.79-1.86-0.65 0.00-0.07-1.79-1.86-0.65 0.00-0.07-1.79-1.86-0.65 0.05-0.06-1.41-1.42-0.80 0.06-0.05-1.55-1.54-1.28 0.17-0.06-1.29-1.19-1.10 0.19-0.06-1.34-1.21-0.97 0.22-0.05-1.19-1.02-0.81 0.22-0.05-1.19-1.02-0.81 0.22-0.05-1.19-1.02-0.81 0.23-0.06-1.66-1.48-1.23 0.23-0.05-1.57-1.40-1.38 0.23-0.05-1.47-1.29-1.41 0.24-0.04-1.11-0.92-1.04 0.26-0.07-1.19-1.00-1.98 0.26-0.07-1.19-1.00-1.98 0.26-0.07-1.19-1.00-1.98 0.21-0.06-1.20-1.04-2.12 0.22-0.07-1.34-1.18-2.19 0.19-0.07-1.39-1.26-2.03 0.16-0.06-1.58-1.48-2.46 0.17-0.06-1.60-1.49-2.48 0.17-0.06-1.60-1.49-2.48 0.17-0.06-1.60-1.49-2.48 0.15-0.05-1.63-1.53-2.62 0.17-0.05-1.77-1.65-3.09 0.09-0.05-2.47-2.44-4.04 0.08-0.05-2.53-2.50-3.71 0.14-0.05-2.18-2.09-3.21 0.14-0.05-2.18-2.09-3.21 0.14-0.05-2.18-2.09-3.21 0.15-0.04-2.48-2.37-3.51 0.12-0.03-2.33-2.25-3.35 0.12-0.03-2.33-2.25-3.35 0.09-0.04-2.40-2.35-3.77 0.06-0.04-2.43-2.41-3.67 0.06-0.04-2.43-2.41-3.67 0.06-0.04-2.43-2.41-3.67 0.06-0.04-2.56-2.53-3.39 0.01-0.04-2.74-2.77-3.58 0.01-0.04-2.74-2.77-3.63 0.01-0.03-3.02-3.03-3.73 0.05-0.03-2.98-2.97-4.03 0.05-0.03-2.98-2.97-4.03 0.05-0.03-2.98-2.97-4.03 0.06-0.04-2.61-2.59-3.24 0.03-0.03-2.78-2.78-3.50 0.01-0.03-2.98-3.00-3.54 -0.03-0.02-3.02-3.07-3.67 -0.04-0.02-3.34-3.40-3.86 -0.04-0.02-3.34-3.40-3.86 -0.04-0.02-3.34-3.40-3.86 0.00-0.03-3.34-3.36-3.56 0.00-0.03-3.34-3.36-3.36 0.00-0.03-3.45-3.47-3.30 -0.02-0.03-3.37-3.41-3.67 -0.01-0.03-3.37-3.41-4.25 -0.01-0.03-2.92-2.96-4.25 -0.01-0.03-3.44-3.47-4.25 -0.01-0.03-3.53-3.56-3.09 -0.01-0.03-3.53-3.56-3.17 -0.01-0.03-3.58-3.61-3.56 -0.01-0.03-3.29-3.33-3.59 -0.01-0.03-3.64-3.68-3.30