Weak longs exiting $USDJPY says Citi noting that while there isn't much to "get excited about" just yet, it might be noting that its flow is skewed in favour of buying the pair, with 56% of trades being purchases
Careful with this $EUR rally, Citi says, noting that while the currency is buoyed by hopes for a breakthrough at the summit on Thursday and Friday, it often struggles to hold on to gains once summits have ended
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CitiTechs staying very bearish on EUR/USD
Written by Sean Lee
February 16, 2012 at 23:55 GMT
I’m just reading the latest overall update from CitiTechs on their technical viewpoints and they remain very bearish EUR/USD, expecting 1.10/1.15 in 2012 and possibly much lower. They are bullish on Crude Oil and Gold, expecting big moves higher in both.
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Citi - $EURUSD While the widening Spain-Germany 10-year bond yield spread is pressuring the single currency, the flat-to-somewhat wider Germany-U.S. 2-year bond yield spread points to more resilience. "Recent history seems to suggest that for the EUR/USD to break out of its range it would take concerted impact from both drivers"
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