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Westpac's G10 FX model "wades back in to......>

FOREX
FOREX: Westpac's G10 FX model "wades back in to the USD after several weeks of
modest shorts. Our short term logit-based macro momentum signal accounts for the
bulk of the shift, reflecting a shift in yield spreads on selective crosses back
in the USD's favour. The model runs with small longs in AUD (mainly due to a
strong external account signal) and CAD (strong growth signal) while NZD remains
a notable short yet again (-18%). The model takes an aggressive stance on the
Scandi currencies; long NOK and short SEK the biggest portfolio exposures for
the week ahead."
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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