The Canadian dollar: to hedge or not to hedge?
Shaun Osborne, chief FX strategist at TD Securities in Toronto
Risk sentiment is really the strong driver of the Canadian dollar's performance, and the correlation between US equities and the Canadian dollar has remained persistent since late 2008. The deterioration we have seen in the Canadian dollar reflects the underlying uncertainties we continue to see around the world, for which there are no quick and easy solutions. The US dollar strength we have seen has given Canadian exporters a chance
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