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Jan 11 - 09:55 AM

EUR: Staying Bullish EUR/USD M-Term; GBP: Bearish Vs All G10 Currencies Except USD - Citi

By eFXdata  —  Jan 11 - 08:36 AM

Citi maintains a bullish bias on EUR/USD, and is now bearish GBP against all of the g10 currencies with the exception of the USD.

"Despite the market reaction last week, the Democratic Party winning the Georgia runoff strengthens the team’s EURUSD bullish bias...Ahead this week: – The most important event may take place in Germany, where the CDU leadership election on Friday/ Saturday could determine the next German leader and whether the CDU remains strongly pro-European," Citi notes. 

"CitiFX Strategy is bearish GBP vs all G10 currencies except the USD. With ongoing trade, COVID and political pressures, BoP risks should weigh on FX as the current account deficit widens to record levels versus limited capital inflows," Citi adds. 

Source:
Citi Research/Market Commentary

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