USD/CAD is down 33 pips to 1.3390 today
Analysts at Amherst Pierpont suggest selling USD/CAD. They say the negativity surrounding the Canadian dollar is well known and priced in. They highlight that correlating assets like rate differentials, oil, risk appetite and other commodities have improved but USD/CAD keeps rising.
They also note that speculative positions are overextended and may signal a trend reversal.
