With CAD to be little changed in 2013, hedging will slow, says the Bank of Canada in its annual survey of banks active in FX markets. The survey, used to assess client activity in Canadian FX hedging, found that banks don't expect USD/CAD to trade significantly outside a 0.9708-1.0204 range in 2013. As a result, banks' FX customers feel little pressure to hedge on a steady USD/CAD rate. "As a result of that view, many corporate clients were choosing to cover exposures in the spot market, or hedge for less than one month," the survey found.
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