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Citi Point Toward USD Sales Into November Month-end

FOREX

Citi's prelim month-end rebalancing model indicates an above average USD sell signal into Monday 30th November.

They write that this month's USD sell signal is almost entirely driven by foreigners' needs to hedge gains in US equities. The contribution to the USD sell signal from US fixed income hedges is only adding marginally this month, while US-based investors will to a lesser degree be USD buyers to hedge gains in their foreign assets.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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