Credit Agricole's FX Style Tracker notes......>

FOREX: Credit Agricole's FX Style Tracker notes that "carry-driven strategies

have remained under pressure and have been the worst performers in the past

month, owing to weaker market risk-sentiment of late. However, strategies based

on yield-momentum have performed well recently. While the Riksbank lowered its

forecast for the repo rate path at its meeting last week, this did not dampen

market rate expectations. Instead, SEK yields have edged modestly higher on the

week, coinciding with a recovery in the SEK. Moreover, the result of the Swedish

general election at the weekend also appeared to confirm preelection polls. This

week, the Bank of England and ECB are due to meet, though little is expected

from both central banks. Instead, the GBP continues to remain driven by

Brexit-related headlines. Risk-sentiment is likely to continue to influence FX

markets. Market concerns of an imminent escalation in tension between China and

the US could ease and see risk-sentiment stabilise in the near term, as focus

shifts to the US-EU and US-Canada trade talks. However, we suspect investors

will still remain rather cautious because of potential headline risks."