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Reminder that all bank models suggest.........>

FOREX
FOREX: Reminder that all bank models suggest month-end USD selling...
Westpac - Bank models all suggest USD selling. Great start to 2019, MSCI World
is up 6.45% in January. Index managers will need to increase hedging in local
currencies [like A$] vs the MSCI basket (~50% USD). What is likely to help A$
even more is that the Australian & UK share markets were the worst performers on
a relative basis returning 3.78% & 3.06% in January.
Barclays - The passive rebalancing model at month-end points to a strong USD
selling versus all majors.
Citi & Calyon are also suggesting USD selling for month-end.

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