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Citi's Month-end FX Rebalancing Model Switches to Weak USD Buying vs. Selling Previously

FOREX

Citi's month-end model switches signal given the recent market price action, now flags a weak USD buy (prelim estimates pointed to USD sales vs. Most others).

The signal for USD buying is now the strongest vs. JPY where strong Japanese equity performance has added to the JPY selling requirement from foreign equity investors. Stocks in Sweden, Australia & New Zealand have also traded well, but the signal in their respective currencies is a little weaker than that of the JPY.

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