A lot happened over the last two weeks but the net result is USD/CAD is merely 0.8% lower over the period as the clearing of CAD shorts during the first week left was followed by a move higher in USD broadly this week. The stability of USD/CAD within the recent volatile ranges, however, masks CAD broad outperformance: over the past two weeks CAD was the strongest G10 currency, rallying as much as 4% versus funding FX and upwards of 2% versus all the european currencies, including a 2.8% to fellow commodity-currency NOK.
CAD strength is in large part attributable to a [...]
Entries Tagged as 'USDCAD'
Strategy comments - CAD
April 28th, 2008 · No Comments
Tags: USDCAD
