Investors pull out cash from US focused stock funds for 3rd week
|The latest Reuters Lipper data shows investors switched out of the US focused stock funds to international equities during the week ended May 17.
Investors pulled $6 billion from US focused stock funds in the week ended Wednesday, a third straight week of outflows.
Non-domestic stock funds pulled in $4.8 billion, while taxable bond funds gathered $4.4 billion, Lipper said.
EUR/USD rallied from 1.0855 (May 12 low) to 1.1172 (May 18 low), which clearly indicates persistent demand for the EUR denominated assets.
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