Barclays notes that the shift in portfolios by global investors during the month could invite more dollar selling to take place this week. That as trade tensions eased significantly since April, which led to a broader rally in stocks in May.
Their month-end rebalancing model predicts that the dollar will face moderate selling against other major currencies to close out the month. The rebalancing is driven by the stronger relative performance in US stocks during May amid a poorer showing in US bonds and the dollar itself. Just something to keep in your back pocket for the days ahead.
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