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.