US dollar strong so far this week

US dollar strong so far this week

Citi's preliminary estimate of month-end FX hedge rebalancing needs points to slightly above average USD selling this week.

"The signal is a USD sell even against currencies like CAD where local equities have done even better than the US ones, because we assume foreigners hold more US assets and tend to hedge them to a greater degree," Citi notes.

For bank trade ideas, check out eFX Plus.