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💶💷We Like Buying EUR/GBP Into BoE: Citi Strategy

  • We still see upside in EUR/USD, EUR/GBP as well as EUR/CNH over the next three to six months

  • Recent market tensions will gradually normalize, and the big picture remains euro positive, as ECB and core European rates are likely to reprice higher

  • Core inflation is far too high and there is wage growth in the pipeline, ECB repricing could go above 3.75%

  • Near term, we like buying the dip in EUR/GBP as we expect a dovish BoE next week. See upside risks in EUR/NZD given alarmingly weak data from N.Z. and sovereign credit rating

- Citi Strategy



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