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Jul 02 - 10:55 AM

USD: Staying Patient On USD; Scope For Short Covering & Higher USD N-Term - Citi

By eFXdata  —  Jul 02 - 09:30 AM

Citi flags a scope for a USD short covering and some gains on the cards in the near-term. 

"Strong USD data as well as more vaccine hopes spurred another round of risk taking with high beta FX led the way," Citi notes. 

"CitiFX Strategy is patient on the USD against this continued backdrop of solid economic performance: “ With a stronger than expected economic rebound, a market still short dollars, and thin summer trading, we believe this suggests further scope for USD short covering and like USD higher in the near term.” Citi adds. 

Source:
Citi Research/Market Commentary

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