MUFG trade of the week: Going short USD/MXN, and short USD/SEK

MUFG Research added 2 new trades to its TOTW portfolio. Short USD/MXN – (spot ref @ 17.400), Target @ 16.900 & Stop @ 17.800 and Short USD/SEK – (spot ref @ 10.980,) Target @ 10.650 & Stop @ 11.200.

“We are recommending a new short USD/MXN trade idea. While the pair has already fallen sharply in recent days, the recent improvement in market conditions is favourable for further carry trade performance,” MUFG notes.
“

We are recommending a new short USD/SEK trade idea. After failing to break above the 11.200-level in recent months, we expect the pair to correct lower towards support at the 200-day moving average at just below 10.700,” MUFG adds.

For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here.