Bearish
Bank of America initiates short position on CAD/JPY amid tariff concerns
Bank of America has opened a short position on the CAD/JPY currency pair, citing increased uncertainty surrounding the United States-Mexico-Canada Agreement (USMCA) and potential intervention in Japan's currency market. The strategists set a target of 112.00 yen per Canadian dollar, with an entry point at 115.65 and a stop loss at 118.90. They noted that the CAD/JPY pair traded 0.1% higher on the day at 115.59, gaining about 1% so far this month.
Key points
- Bank of America enters short CAD/JPY trade amid tariff concerns
- CAD/JPY pair trades 0.1% higher on the day at 115.59
- CAD/JPY gains about 1% so far this month
Sources
AI-generated from public news sources. Not financial advice.
