Asset rebalancing likely to be AUD and GBP positive
Its nearing the end of the financial quarter so we can expect turnover at the London Fix to be much higher than normal as asset managers rebalance their portfolios.
- AUD, GBP and JPY likely to see inflows:
- USD and CAD to see outflows:
- EUR relatively neutral:
- Also don’t forget that the Buba usually buys around 1bill EUR/GBP at this time of the month but that’s more likely tomorrow.