=> Here we are tracking risk-off for the US mid term elections and using CADJPY as a strategic hedge. => This is because of Canada primarily funding its deficit through portfolio inflows and with tightening liquidity conditions we see less investment into Canada for the foreseeable future. => Later this month we have a BoC hike priced in as well as another 2 before May 2019. => To the other side higher oil prices and NAFTA risk cleared CAD looks poised to fall. => In this environment it's important to bring back CAD, AUD and NZD to the operating room as funding scarcity and tighter liquidity conditions will mean the USD rally won't be universal. => GL on this one guys, a very interesting call