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#SaxoStrats - Buying puts in NZDUSD

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With NZDUSD trading near the top of its range, Saxo Bank's Head of FX Strategy John Hardy has seen the opportunity for a mean reversion amid fresh positive data for the USD.

In his latest #SaxoStrats video John outlines the reasons behind his trade. 

Entry: Long NZD put/USD call, strike price 0.7400, expiry July 21 (costs 109 pips at spot reference of 0.7670 on April 21). 
Time horizon: Three months or begin hedging if spot trades well below 0.7200.