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Aug 19 - 12:55 PM

USD: Strength To Reassert Itself As Bear Market Rally Is Likely Running Out Of Legs - Citi

By eFXdata  —  Aug 19 - 10:45 AM

Citi maintains a bullish bias on the USD, expressing that via a short exposure in EUR/USD targeting 0.99.

"Citi Emerging Market Strategy team expecting USD strength to reassert itself. They see the bear market rally running out of legs, with more leading indicators pointing to a US recession and easing financial conditions making a Fed pivot less likely and reducing the chance of any dovishness out of Jackson Hole," Citi notes. 

"The net result is USD should do well, particularly given difficult situations in both China and the Eurozone," Citi adds. 

Source:
Citi Research/Market Commentary

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