Canadian Dollar Message Board

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Strategies & Market Trends : Canadian Dollar

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To: Rob Toor who wrote (52)	12/19/1997 2:00:00 PM
From: TAPDOG	of 103

The Can$ gets hit when Asia has problems. It looks like the Bank of Canada has given up trying to defend 70 cents. They've already spent a lot of money on forex intervention and they raised rates. Historically, they've always been pretty skillful at intervention, so I think they will let the Can$ go a bit lower, and on some slow-trading days between Christmas and New Years they will intervene and sell U.S. dollars. I've been playing the short side of the futures market, but at this level the risk-reward isn't there. I'd say that the Can$ will go slowly lower until the Asia problems are out of the news. Then we'll get a rally. BTW, Can$ options on the IMM in Chicago have been reasonably priced.

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