BAML Recommends British Pound / Canadian Dollar Currency Pair

As the Liberal Party and its scion Justin Trudeau march to victory in Canada’s election yesterday, a Bank of America Merrill Lynch foreign exchange quant report says the trade of the week is the British pound / Canadian dollar forex pair.

BAML: Trading during periods of strength during New York and Asian trading hours underlie recommendation

Monday’s BAML foreign exchange trade recommendations from Vadim Iaralov, the bank’s FX Strategist, could not have known for certain that the man of many personalities, 43 year old Justin Trudeau, and his Liberal Party would win the national Canadian election. The election appeared not to matter much to the trade...