Flight record (EFTA01451458)

t: Spot FX is currently 1.095. [I] Classification: For internal use only I like USDCAD call options to position for further weakness in CAD. spot FX is currently 1.095. over the course of the past week the interest rate curve has started pricing in a small amount of rate cuts - this development is significant and clearly a beginning of a pain trade. I believe it can go further. Lower CAD rates from here will drive USD CAD higher. <mime-attachment.gif> The limited downside play I like b