It is a good time to short the U.S. dollar versus the Canadian currency, given its ties to oil prices that have moved back toward the top of a recent trading range, Goldman Sachs said on Thursday.”This U.S. dollar view could have been expressed against a number of currencies but the Canadian dollar looks particularly attractive given its strong exposure to oil,” Goldman Sachs wrote in a note. “Combined with our underlying bullish oil view linked to supply fundamentals, the risks are likely skewed towards CAD outperformance.”
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