Westpac's G10 FX model notes "despite a.......>

FOREX: Westpac's G10 FX model notes "despite a clear turn in the USD's fortunes

lately as other central banks join the Fed's recent dovish pivot the model is

unconvinced. For the week ahead the model has a 13% USD short. The flipside is

that the model sticks with an outsized JPY long (+24%) and remains neutral EUR.

The RBA's decidedly more cautious stance sees the model adopt a modest 6% short

for the week ahead after largely sitting on the sidelines for several weeks. A

negative growth and yield signal are key features of the model's bearish stance

on AUD; were it not for the healthier trend in Australia's external accounts the

model would have a larger AUD short. NZD remains out of favour for yet another

week (9% short)."