FX month-end rebalancing to lead to small amounts of USD selling

Global equity markets tracked higher across the board in April as risk appetite increased. Bond markets continue to be supported by subdued inflationary pressures globally and accommodative policy from the major central banks.

"We expect the rebalancing of hedges at month-end to lead to small amounts of USD selling versus the major currencies. Our month-end model shows a small USD sell signal versus all currencies except the JPY, against which the model has a neutral signal." - said Barclays Capital