Bank of America Merrill Lynch in its currency strategy report feels despite continuous profit taking, selective buying could soon emerge as investors remain in risk on mode.
Athanasios Vamvakidis and the team at BofA Merrill Lynch feel investors don’t want to spoil the party. Investors resorted to booking profit to protect good average returns gained so far this year.
Risk on mode: USD against GBP and AUD:
The BAML analysts in their liquid cross border flows report said that the FX flows point towards further weakness in USD, particularly against GBP and AUD as risk on continues.
BofAML analysts feel the recent unwinding of GBP...
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