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FOREX: Westpac's G10 FX model has opened "a meaningful 24% USD short for the
week ahead, the Fed's dovish tilt and a slightly weaker growth signal the main
catalysts. Among the dollar bloc the model trims its AUD short slightly and
expands its CAD long to 18% of the portfolio, a stronger yield signal in the
wake of last week's stronger than expected May inflation data the main trigger.
NOK remains the favoured long by a very comfortable margin at +37% of the
portfolio."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com