The Globe and Mail reports in its Thursday edition that analysts see less upside for the Canadian dollar than previously thought over the coming year as recent data showing a slowdown in the domestic economy brings forward the expected start of Bank of Canada interest-rate cuts, a Reuters poll found. A Reuters dispatch to The Globe reports that the median forecast of 35 foreign exchange analysts surveyed in the Dec. 1 to Dec. 5 poll was for the Canadian dollar to strengthen 0.4 per cent to 1.3533 cents per U.S. dollar, or 73.89 U.S. cents, in three months, compared with 1.345 cents in a November poll. "Our view is the Canadian dollar is going to face a difficult next three months as the data starts to look like the Canadian economy is teetering on the edge of recession if not in a mild recession," said Simon Harvey, head of FX analysis for Monex Europe and Monex Canada. The Canadian economy unexpectedly contracted at an annualized rate of 1.1 per cent in the third quarter, avoiding a recession after an upward revision to the previous quarter but showing growth stumbling. Soft domestic data "should bring forward expectations of BOC easing, especially relative to the Federal Reserve," Mr. Harvey said.