Barclays: month end rebalancing of hedged positions suggests USD buying

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From Barclays research department:

“We expect the passive rebalancing of hedges at month-end to lead to USD buying interest. Moderate signals were generated against EUR and AUD, while there were more modest signals against all the other major currencies.
Equity markets lost some ground across developed economies as the ECB delivered less easing than anticipated, while the Fed finally started its hiking cycle. In dollar terms, the US markets underperformed as the greenback weakened against most G10 currencies, except GBP and CAD, during the month. Bond markets remained relatively stable across the board, but outperformed in dollar terms in Europe and Japan”

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