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BAML note the recent risk rally is not........>

FOREX
FOREX: BAML note the recent risk rally is not sustainable ahead of short-term
risks.
- EM complacent before China-US trade talks.
- Short-term signals support USD against NZD, AUD & CAD. Our technically bullish
medium-term USD view set to resume.
- Our bullish EM call for the start of 2019 has become consensus and it is time
to hedge. Market complacent about CNY risks.

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