Comments from the Fed took a bite out of the dollar, and this strategist has a plan to play it.
Since Federal Reserve Chairman Ben Bernanke indicated Tuesday that more quantitative easing was not off the table, the dollar has been feeling the effects — and the euro has looked stronger. Andrew Busch, global currency and public policy strategist for BMO Capital, has a plan to trade the move.
Sure, the euro rose after Bernanke's comments, Busch told CNBC's Melissa Lee, but it wasn't a widespread shift. "What we're going to do is try to play that," he says.
Busch sees the euro trading in a range from 1.30 to 1.35, so "let's just keep it simple, stupid," he says, and trade that.