A couple of banks are noting expectations of USD selling into the end of August
Sumitomo Mitsui Trust
- USD more likely to see seller pressure toward the end of August
- Strong performance of US stockmarkets expected to prompt rebalancing of fund manager portfolios
Credit Agricole
- USD has gained against most G10 currencies in August (weaker against yen and Swissy)
- US equity outperformance, when adjusted for market capitalisation and for forex performance is suggestive of month-end portfolio rebalancing flows
- Likely to show strong USD selling
