Here Are The Strongest Seasonal FX Patterns In March - ANZ

While short USD/CAD and long USD/JPY tend to perform well during the month of March, they are not attractive seasonal plays from a risk/reward perspective, notes Australia and New Zealand Banking Group (ANZ).

Figure 1 shows how G10 and Asian currencies have performed during the month of March over the 2000- 15 period

"Among the G10 currencies, USD/CAD has the best directional move with declines in 11 out of the last 16 years. But the average spot move is marginal at -0.1%.

USD/JPY has the best overall seasonal pattern, gaining in 10 out of the last 16 years for an average spot gain of 0.6%.However, the percentage moves during years when it goes against the seasonal pattern is larger than when it conforms to it, which does not make it an attractive seasonal play from a risk/reward perspective," ANZ clarifies.

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