Following up on comments made by Canadian PM Harper on Monday who reiterated his hopes that the US Congress will solve its fiscal cliff challenges soon, Citi's Greg Anderson says going short CAD/JPY is a good hedge trade in case the US jumps off the fiscal cliff. CAD is notably sensitive to the US fiscal cliff given Canada's trade linkages south of the border, while Anderson adds that as short JPY positions are building, "JPY's potential to appreciate in the event of a market shock is increasing," Anderson said. CAD/JPY at 81.90, up 0.23%, according to CQG.
Find us on Google+
No comments:
Post a Comment