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Monday saw CIBC's PCR model enter a...>

DOLLAR-CANADA
DOLLAR-CANADA: Monday saw CIBC's PCR model enter a short USD/CAD position at
C$1.3450 with a target of C$1.3020 and a stop at C$1.3880. CIBC write "our HF
model likes the short USD/CAD trade targeting C$1.3020. Most of this valuation
is due to the relationship between rate spreads and the FX rate, which has
broken down. Note: Our quantitative model differs from our fundamental view that
the CAD should depreciate over time."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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