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Westpac's G10 FX model remains "unconvinced...>

FOREX
FOREX: Westpac's G10 FX model remains "unconvinced by the USD, sticking with a
20% short for yet another week. The model would be long USD if it were only
about growth and yield; the main drags at the moment are valuation, with both
short and long term valuation signals skewed negative USD. The RBNZ's sharp
dovish pivot has pulled the rug from under NZD, the resulting collapse in our
NZD total yield signal sending the model into a 23% NZD short, the biggest short
for the model."
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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