To Be, Or Not To Be … In Canadian Dollars?

As Jack mentioned on Tuesday, we’re in Vancouver speaking at an investment conference. A popular question here, as the case with most conferences and seminars we attend, is:

Which currencies would you want to hold right now for long-term appreciation if you didn’t want to have all your money in US dollars?

To us, based on our current long-term global macro analysis, the answer is not clear. Why? Well because we seem to be at a very important junction; generally speaking, a junction that could lead currencies in one of two directions versus the US dollar – up ... or down.