We see the rally in crude oil as supportive for CAD at the margin, however, the upside beta has become weaker
See risks of spot USD/CAD testing 1.3350 in the near-term
The presumption for the trade is outside the crude oil rally, we see liquidity constraints in the USD as well as positioning in CADA benefiting our view
Short USD/CAD via a June 1.30 strike
- CIBC Strategy
Comments