Bank of America Merrill Lynch FX Strategy Research notes that its proprietary flows show that real money accounts have resumed USD selling in the last two weeks.
“Most USD selling has been against EUR, but real money has also been buying CAD, NZD and SEK.
The real money EURUSD position is the longest it has been since our index begun in 2012,” BofAML adds.
Source: Bank of America Merrill Lynch Rates and Currencies Research
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