This via the folks at eFX.
JP Morgan Research sees a scope for further USD/CAD upside and likes to play it via option exposure (call spread).
- "Cracks are starting to show in the CAD macro outlook. It's too early for broad-based CAD underperformance but USD/CAD can start to make new highs as US-CA similarities start to wane.
- "The Fed hiking deeply into restrictive territory while global growth shows little sign of stabilization also warrants a higher USD/CAD bias, " JPM adds.