Westpac write that "the big story for the.....>

FOREX: Westpac write that "the big story for the G10 FX model this week is the

sharp decline in U.S. yields as trade frictions expand on multiple fronts and

markets aggressively reprice Fed expectations. The sharp fall in U.S. yields

sees the model up its USD short to 12% of the portfolio for the week ahead, the

most negative the model has been on the USD in quite sometime. A still positive

growth signal constrains the size of the USD short. The model trims its AUD

short in to a meagre 4% of the portfolio; the AU-U.S.10yr spread has narrowed

from -80bp to around -60bp in recent days, mainly due to the sharp fall in US

yields."