Citi summarizes its current bias on EUR/USD and USD/JPY.
"CitiFX Strategy's medium-term bullish bias for EURUSD remains, but we see little near-term direction, and concerns around covid, growth and positioning. This week’s main event is the October ECB – we expect the ECB to point to persistent stimulus including an extension of PEPP asset purchases in December," Citi notes.
"USDJPY continues to see risk/reward favouring USDJPY shorts per the team. We expect no changes but a slightly dovish BoJ meeting on October 29," Citi adds.