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Aug 14 - 12:55 PM

EUR/USD: Negative Newsflow, Not Necessarily Catalysts; Staying Bullish Into Year-End - Citi

By eFXdata  —  Aug 14 - 11:15 AM

Citi maintains a bullish bias on EUR/USD into year-end, expressing that via holding a 2.5 month EUR/USD topside ((19 October 2020) EUR/USD call spread.

"Fed's Daly somewhat surprisingly said that she did not see the need for the Fed to offer any additional forward guidance at this time. This does stand in contrast to the market’s expectation that the September meeting will see the Fed provide some guidance on how much they would look to tolerate future inflation overshoots," Citi notes.

"Overall, we remain bullish EURUSD and hold 2.5 month EURUSD topside in our Strategy portfolio," Citi adds.

Source:
Citi Research/Market Commentary

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