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*** Bank month-end FX rebalancing model.......>

FOREX
FOREX: *** Bank month-end FX rebalancing model summary:
- Barclay's month-end FX rebalancing model points to strong USD selling via
EUR/USD, GBP/USD, AUD/USD & USD/CAD. The USD selling signal is more moderate in
USD/JPY.
- Citi FX Quant suggests that "there is a decent chance of some USD at
month-end. The dominant position of the U.S. in international
market-cap-weighted equity indices leads this net USD selling signal to dominate
this month's overall direction, even in crosses like CHF where the local market
has gained even more."
- Credit Agricole's model expects month-end flows to be strong USD selling
across the board.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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