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Credit Agricole note that "global equity......>

FOREX
FOREX: Credit Agricole note that "global equity markets took a hit earlier this
month, owing to the turmoil in Turkey, triggering a period of heightened market
risk-aversion. While risk sentiment has since stabilised and global equity
markets have modestly recovered, stock performance has been somewhat mixed this
month. US equities has rebounded well making gains on the month. In FX, the USD
has made ground against most G10 pairs this month, although is slightly weaker
against JPY and CHF (at the time of writing). Overall, the US equity
outperformance, when adjusted for market capitalisation and FX performance,
suggests month-end portfolio rebalancing flows are likely to show 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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