It appears the Tim Horton’s / Burger-King deal has sparked a serious surge in Canadian Dollar demand.
CAD is up almost 1% today – its best daily gain since June 2012 – pushing to its highest in a month. We suspect the momentum of the initial “tax inversion” flow merely triggered stops and broke key technical levels (200-day moving average) to extend the move as it seems the ‘Canada as an offshore tax-haven meme’ is a bit of reach…
200-day moving average is 1.0885…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1qhzM95 Tyler Durden