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18 Jun 2013
Flash: The case for USDCAD upside - UBS
FXstreet.com (Barcelona) - The broad-based US dollar strength theme will pick up momentum going forward, says Cameron Umetsu, FX Strategist at UBS, who favours buying any dips on the USD/CAD post FOMC.
As Umetsu writes, "Any post-FOMC pullback in USDCAD towards strong technical support at 1.0120 should offer dip-buying opportunities for those looking to exploit upside potential into the Bank of Canada's July 17 meeting."
The UBS Strategist thinks the official statement from the Bank's next meeting on July 17 "could be watered down to provide a slightly more dovish tilt than those under Carney regime, with other aspects of the policy statement also potentially softened."
As Umetsu writes, "Any post-FOMC pullback in USDCAD towards strong technical support at 1.0120 should offer dip-buying opportunities for those looking to exploit upside potential into the Bank of Canada's July 17 meeting."
The UBS Strategist thinks the official statement from the Bank's next meeting on July 17 "could be watered down to provide a slightly more dovish tilt than those under Carney regime, with other aspects of the policy statement also potentially softened."