UBS' flow monitor notes that the "SEK was.....>

FOREX: UBS' flow monitor notes that the "SEK was the most bought G10 FX on a

normalized basis last week, reversing from the previous 5 weeks of net selling

interest, as the releases of activity data (retail sales, GDP and PMI) surprised

to the upside. In line with currency strength, NZD and AUD also saw inflows; the

largest daily NZD inflows coincided with improving consumer confidence on

Thursday. CHF was also bid for the third straight week. On the other hand, GBP

recorded the largest normalized net selling among the majors. USD saw outflows

despite decent inflation (April PCE) and activity (non-farm payroll report with

a modest pick-up in wage growth and ISM) data, while NOK was sold for the third

week in a row. EUR was marginally sold last week, but it marked the ninth

straight week of outflows. CAD was sold amid soft Q1 GDP data. In EM, BRL and

MXN were most sold while KRW, PLN and CZK were strongly bought."