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Jul 26 - 10:55 AM

USD: July FOMC: Hawkish Fed, USD Down Continued? - Citi

By eFXdata  —  Jul 26 - 10:00 AM

Citi discusses the USD outlook around tomorrow's FOMC policy meeting. 

"CitiFX Strategy calls for a 75bps hike, with little forward guidance, expecting the Fed to signal further tightening but move away from strong guidance on the size of the next hike," Citi notes. 

"While they remain bullish USD linked to a hawkish Fed, US outperformance and global recession risks, on the day itself, risks skew slightly dovishly (down for US rates and USD), in line with previous meetings, but subject to changes in pre-positioning," Citi adds. 

Source:
Citi Research/Market Commentary

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