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Oct 26 - 10:55 AM

EUR/USD: Little N-Term Direction But Staying M-Term Bulls; USD/JPY: Risk-Reward Favors Shorts - Citi

By eFXdata  —  Oct 26 - 09:30 AM

Citi summarizes its current bias on EUR/USD and USD/JPY.

"CitiFX Strategy's medium-term bullish bias for EURUSD remains, but we see little near-term direction, and concerns around covid, growth and positioning. This week’s main event is the October ECB – we expect the ECB to point to persistent stimulus including an extension of PEPP asset purchases in December," Citi notes. 

"USDJPY continues to see risk/reward favouring USDJPY shorts per the team. We expect no changes but a slightly dovish BoJ meeting on October 29," Citi adds. 

Source:
Citi Research/Market Commentary

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