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'The Canadian dollar may be an early winner after sliding for a month against almost all major currencies on concern that Harper’s push for control would fail. The currency may be buoyed by forecasts that Canada’s growth will match the U.S. as the fastest in the G-7 after recouping the jobs lost during the recession. Societe Generale SA and ING Financial Markets, the two most bullish forecasters, see the currency gaining 3.4 percent versus the U.S. dollar by year-end, according to data compiled by Bloomberg.

“The election of a government with a pro-business agenda is good for risk assets such as the currency, stocks and bond spreads,” said Ed Devlin, a London-based portfolio manager at Pacific Investment Management Co., manager of the world’s largest bond fund. The currency will be well-supported by its economy, Devlin said, citing “fundamental strengths to Canada relative to the rest of the G-7.”

Societe Generale and ING anticipate the currency strengthening to 92 cents to the U.S. dollar by year-end, from 95.24 cents yesterday, Bloomberg data show. Strategists are struggling to keep up with the so-called loonie’s gains, boosting their median year-end estimate to 97 cents from $1.01 in January.'
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