Thursday, July 16, 2009

CitiFX buys Canadian dollar against the yen

Canadian Dollar over the past few days, significantly strengthened its position and, while today it has adjusted slightly lower against the backdrop of a fixed income exchange CitiFX strategists believe that the Canadian currency is still significantly underestimated. However, periods of improving the mood in financial markets continued to provoke attacks weaken the Japanese currency, the disadvantage which is the political uncertainty in Japan, and CitiFX believe that under the circumstances, the opening of long positions in the Canadian dollar will be a very attractive strategy in a pair of yen . Strategists advise companies to use a pair of attempts to reduce, which is currently testing a bidy about Y83.50/40, to open a long with the expectation of growth in the direction of Y90.

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