Strategists at the bank are telling clients that there’s still time to profit from the economic upheaval being caused by skyrocketing energy prices. Even though the pound is already weak, it’s likely to keep declining, said Brad Bechtel, the global head of FX.
“Getting exposure to some of the energy-producer currencies like Canadian dollar against sterling makes a lot of sense,” he said in an interview. With the American economy relatively strong compared with the rest of the world, those benefits are likely to spill over to Mexico and Canada, he added.
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