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SG: buy USD/JPY and USD/CAD

Currency strategists at Societe Generale, expect the greenback to gather traction vs. the CAD and JPY in the near term.

"The US dollar is likely to be strong against are the Canadian dollar, undermined by dovish BOC comments, sensitive to US rates and overvalued, and the Japanese yen, which will weaken as US rates edge up, particularly if the global risk environment remains broadly positive", analysts explain. 

"GBP/USD and EUR/USD on the other hand, will continue essentially to ‘top out', with more significant moves down likely only later in the year when Fed hikes are much closer."

JPY
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