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Jun 07 - 10:55 AM

USD: A Likely Dovish ECB And Potentially High US CPI Could Support USD This Week - Citi

By eFXdata  —  Jun 07 - 09:30 AM

Citi sees a scope for the USD to stay bid this week, while maintains a bearish bias on the currency over the medium-term.

"Short USD positions have been cut and hawkish Fed risks slightly recede, opening up the way for further USD downside," Citi notes. 

"But this week a likely dovish ECB and potentially high US inflation reading could stand in the way of downside Dollar momentum, even though our overall view remains for a weaker Dollar over time and upside in G10 commodity currencies, EUR and GBP," Citi adds. 

Source:
Citi Research/Market Commentary

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