Bipan Rai, global head of FX strategy at CIBC Capital Markets, joins BNN Bloomberg to discuss his currency outlook for the new year, expecting the U.S. dollar to fall to 1.30 in early 2023 and the loonie to rise to 76 cents. Rai says he expects the Fed to hike rates to at least 5 per cent and thinks the currency markets have adequately priced in rate hikes.