Flash: Funds getting stretched here? - BBH

FXstreet.com (Guatemala) - Strategists at BBH noted that the Bank of Canada meets next week and the string of soft data and official comments has encouraged investors to expect a dovish assessment.

Key Quotes:

"The US dollar neared CAD1.10 in early Europe".

"We suspect the greenback is getting stretched here and, perhaps running the stops above there will exhaust the speculative market which, using the futures as a guide have amassed a large short Canadian dollar position".

"Initial support is now seen near CAD1.09".