The Canadian is holding together impressively in the face of a fresh wave of confidence in the US Dollar. As we suggested yesterday it is probably time to begin playing for a longer term low in theCanadian Dollar, but one should not rule out at least a temporary return to the October consolidation lows. In thenear term, the Canadian looks to see some periodic spillover selling from a hawkish Fed, but eventually the USeconomy will be judged strong enough and the Dollar will be overvalued and a major top in the Dollar/major low inthe Canadian should be put in place. (see long term trade suggestion)
