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They assert that May was a positive month for US stocks, so the rebalancing of flows will lead to dollar outflows. This matches what Barclays said last week here.
Meanwhile, Deutsche says their model also indicates positive flows in the Canadian dollar and British pound. This comes as Canadian and UK stocks lagged their US counterparts this month. Instead, they see the best sellers in USD/CAD and the most popular in GBP/USD at the end of this month.
Typically, these flows can occur during the week, but they can be particularly evident in the London Stock Exchange session in the last few days of the month. So, this might be something to pay attention to later today or tomorrow.
