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Credit Agricole's latest update of their......>

FOREX
FOREX: Credit Agricole's latest update of their long-term fair value model
suggests that the fair value of the USD increased moderately across the board in
Q118. They argue that "this may be a sign of the positive impact of President
Trump's policies, as it seems to have been driven by a rise in US productivity
as well as real yields and rates, relative to the rest of the G10, which more
than offset the deterioration in US external imbalances. In the commodity G10
currencies, deteriorating relative commodity terms of trade further contributed
to the drop in their fair values versus the USD."
- Credit Agricole's fair value estimates: EUR/USD $1.23, GBP/USD $1.39, USD/JPY
Y98, USD/CHF CHF1.14, AUD/USD $0.74, USD/CAD C$1.32, NZD/USD $0.63, USD/NOK
NOK8.04, USD/SEK SEK8.20.
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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