This via the folks at eFX.

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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.
usdcad week 26 September 2022