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Month-end fixing will underpin US dollar - Barclays
Barclays Capital's month-end rebalancing model generates USD buying signals across the board "We expect the passive rebalancing of hedges at month-end to lead to decent amounts of USD buying against all of the major currencies we include in our analysis," Barclays projects. "Renewed concerns about the health of the Chinese economy led to a bout of global risk-off moves causing extreme losses in equity markets all across the board. The market value of the US equity market (because of its size) fell significantly relative to the rest of the world, while gains in bond markets were moderate," Barclays notes. "Our model, ... (full story)