The Biggest Currency Loser
If you are looking for a currency headed south in a hurry, you have a bit of a dilemma these days.
Certainly, uncertainty in Italy and a sluggish economy are denting the euro. But there are several other candidates for the title of biggest currency loser.
Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank, doesn't like the yen or the British pound, but says, "yen is going to weaken much further." The incoming Bank of Japan governor is expected to pursue monetary easing more aggressively, she told CNBC's Amanda Drury, and that will keep downward pressure on the currency. "We're looking at 100 on the yen, I think, very soon."
"I think sometime in the next month or so," says Brian Kelly of Shelter Harbor Capital. The Bank of Japan will be meeting again on April 3, he says, and "I imagine people will start shorting the yen into that."
Kelly is also bearish on the Canadian dollar, noting that a positive employment report on Friday sent the loonie higher -- but it quickly reversed. "When a currency does that, I love it, I short it,' he says.
Andrew Busch, publisher of andrewbusch.com, is particularly negative on the British pound. He points out that three members of the Bank of England's monetary policy committee pressed for more quantitative easing at their last meeting, and "that's really what put the move on the downside on steroids."
(Read more: CNBC Explains: Quantitative Easing)
But Busch thinks the weakness is far from over. He expects the pound to be weaker than the yen, since "I think they'll run into some issues on what they're going to do in Japan." In Britain, though, "I think they've got the dynamic of a surprise weak GDP growth and just really no end in sight."
The good news is that currency trades involve pairs - so at least you have plenty of candidates for the short side.
Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.
Learn more: The essential vocabulary for currency trading is on Key Terms Dictionary. Top currency strategies are broken down for you in Currency Class.
Talk back: Tell us what you want to hear about - email us at firstname.lastname@example.org.