Currency strategists at J.P.Morgan claim that once one is bullish on oil, all he needs is to choose which currencies of oil-producing nations to trade.
The specialists warn that it’s necessary to be very cautious with Canadian dollar as its dynamics is strongly correlated with the moves of S&P 500 Index. So does Mexico's peso and Russian ruble.
As a result, the best choice for such traders is Norwegian krone.
Chart. Daily USD/CAD
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