UBS' FX flow monitor notes that CHF was the...>

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

normalized basis last week, with the heaviest daily inflows seen on the same day

as stronger-than-expected PMI data.

- The monitor notes that USD was bid for a fifth straight week, registering only

one day of outflows on Wednesday, coinciding with the FOMC statement.

- GBP was marginally bid despite relatively soft PMI data as CAD was bought for

a third week in a row, bolstered by strong inflows on Tuesday around the Feb GDP

release.

- NZD was the most sold on a normalized basis, registering outflows for a third

week with net selling interest throughout the week.

- EUR was net sold for the fifth week in a row, following heavy outflows

coinciding with a modest CPI print on Wednesday.

- SEK saw outflows for a second week as JPY daily flows were mixed.

- NOK registered a fifth week of outflows despite further Norges hawkishness and

AUD was marginally sold.