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Oct 16 - 10:55 AM

USD: Reversion In Extreme Flow Readings USD supportive - BofA

By eFXdata  —  Oct 16 - 09:30 AM

Bank of America Global Research maintains a bullish USD bias into year-end.

"For multiple consecutive weeks, EUR has experienced atypically strong inflows according to our LCFB data. Its z-score readings of 2.2 and 1.9 over the last 2 weeks, respectively, suggest lack of speculative support and possibly liquidation ahead," BofA notes.

"Probabilities are heavily skewed toward EURUSD lower, conditional on readings of such magnitude historically,"BofA adds. 

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Source:
BofA Global Research

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