Greek Debt-Deal Success Points to a Risk-On Trade
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The Greek debt deal is injecting optimism into the currency market. Here's how to trade the good mood.
How'd you like that Greek debt deal? The market sure did. And Camilla Sutton, chief currency strategist for Scotia Capital, thinks the good mood is creating a trading opportunity.
"When we look at Aussie-yen, we've had two big themes in place this year: a little bit better growth, and very very low volatility," she told CNBC's Scott Wapner.
What with the central bank fueling low volatility by adding liquidity, "it still makes carry a reasonable trade," she says.
So Sutton wants to buy the Australian dollar against the yen, entering right around current levels at 87.50 with a stop at 86.50 and a target of 89.50.
"Until we get those volatility measures ticking higher, I think we can still be long Aussie short yen. In this environment, it's still the one trade that is still working for most people out there," she says.
You can watch the discussion on the video.
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