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Aug 03 - 09:55 AM

USD: Looking To Sell Rallies In August; GBP: Looking To Buy Dips On A Dovish BoE This Week - Citi

By eFXdata  —  Aug 03 - 08:59 AM

Citi is looking to sell USD rallies and buy GBP on dips over the coming weeks.

"We remain bearish USD and in particular would fade any USD rallies...August tends to see modest USD upside and month-end rebalancing signals were for USD selling. We note investor questions about the long-term role of USD are rising," Citi notes. 

"We see more GBP upside and would add on any dip on a dovish BoE outcome on Thursday, where we don’t expect the BoE to put negative rates firmly on the table," Citi adds. 

Source:
Citi Research/Market Commentary

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