Why the Bank of Canada could be among the first to raise interest rates

The head of currencies at one of the world’s largest banks is partially responsible for the Canadian dollar’s appreciation over the past few months. Paris-based BNP Paribas SA’s currency portfolio is “overweight” loonies and Momtchil Pojarliev is advising the bank’s clients to do the same. He reckons the Canadian dollar is undervalued, since the petrocurrency’s price hasn’t fully adjusted to the likelihood of stronger oil...