USD: space to close short positions and grow in the short term, - Citi

02.07.2020 20:11
Citi indicates a space for closing short positions on USD and some growth in the short term:
"Strong USD data, as well as stronger hopes for a vaccine, have triggered another round of risk-taking, and high-beta currencies are leading the move.
CitiFX Strategy is patient with the USD against the backdrop of continuing strong economic indicators. With a stronger-than-expected economic recovery, the market still has a short position on the dollar, and with low trading volume in the summer, we believe that this suggests further space to cover short positions on the USD and prefer a rise in the USD in the short term."

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