FX Hedges For April Showers
Ideas for relief rallies, OIS repricing and CAD tariffs.
The next few weeks can potentially drive significant moves in the FX space. We have quarter-end flows to contend with, alongside the reciprocal tariffs that are slated to go into effect on April 2nd.
Beyond this, we have other macro themes that could become more pronounced. This includes the potential for US rates pricing to become less dovish, the next leg lower (or relief rally continuation) for US equities, the Turkey tantrum, a spring budget for the UK and much more.
As a result, we wanted to run through some of our favourite hedging ideas for the coming month. Most are designed to protect an initial position, but we also throw in some speculative hedges for good measure.
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