Dollar pressure is a boost for Citigroup
CURRENCY FORECASTS
Todd Elmer, currency strategist at Citigroup in New York, said the recent price action, which has seen the dollar come under pressure, fitted in well with the bank's forecasts.
"For some time we had been highlighting that the dollar had been trading somewhat stronger than might have been anticipated on the basis of relative cyclical developments between the euro area and the US," he said.
He added that in recent weeks, US data has reflected the lingering impact of what was "the most
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