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Westpac's G10 FX model continues to "dial.....>

FOREX
FOREX: Westpac's G10 FX model continues to "dial back its USD caution but still
remains overall short (-18% of the portfolio), our model putting more weight on
the positive risk environment than the USD's improving yield credentials. Our
total yield signal for AUD deteriorated following the weaker than expected Q4
GDP. As such the model opens a modest AUD short (5% of the portfolio). The
dovish BoC pivot last week sees the model open a modest 5% CAD short too. The
model continues to see light and day between NOK and SEK, running with an
outsized NOK long for yet another week and a large SEK short."
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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