Archived IMT (2009.08.10)

Both sterling and Canadian dollar are sold across the board as warned on Friday, with GBPUSD at 1.6585, nearing our 1.6510 target before 1.6460. USDCAD regaining 1.0836, for an interim resistance at 1.0870. Oils failure to regain $73 is increasingly becoming apparent. With a break below $69 per barrel a strong likelihood today, we could see a retreat in equities that would intensify CAD losses. Gold seen at 935.