Analysis for June 29, 2012
CAD/JPY fell during the session on Thursday as the oil markets gave way. As many of you know, the Canadian dollar is driven mainly by the crude oil markets, but many of you won’t know that the Japanese import 100% of their oil. It is because of this that the CAD/JPY pair is highly sensitive to movements in the oil markets. In fact, it’s one of my favorite ways to play the oil market using currencies.
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