eFXdata reports that the output of this month-end fixing model point to USD selling across the board into London Fix on Friday July 31, according to data from Credit Agricole CIB Research

"Global equity markets were broadly firmer on the month while the USD has underperformed across the board. Overall, the moves in equity markets, when adjusted for market capitalisation and FX performance this month, suggest that month-end portfolio-rebalancing flows are likely to keep the USD on the back foot," CACIB notes.