LOONIEVIEWS -Overnight Edition 11-12July13

The action on Friday is likely to see a continuation of the bearish USDCAD theme. The Wed/Thurs US dollar meltdown will have more than a few traders licking their wounds and sitting on the sidelines. It is probably a bit too early for the bottom pickers to jump in and there are likely still some long USDCAD positions that need to be trimmed or shed.

see Saxo Bank’s Tradingfloor.com

Categories FX, Foreign Exchange, Currency, Canadian Dollar

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