eFXdata reports that analysts at Citi see scope for an extension in the ongoing USD rally.
"We calculate USD positioning to be quite neutral at these levels. As such, we think that as fresh positions are added, this USD squeeze can continue in the near term and would not stand in the way of it."
"USD/JPY tends to be the most reactive to moves in fixed income; but right here we think selling EUR/USD on top of buying USD/JPY makes sense, as the shift by the Fed may elicit a more risk-off tone in markets this week."
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