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2025-07-30 03:36:57
Citigroup analysts exited their EUR/USD long trade at a stop-loss at 1.1540, resulting in a 1.3% loss including interest. Citigroup's Daniel Tobon, Osamu Takashima and Brian Levine said in a report that this week's EUR/USD pullback was due to a position squeeze, triggered by the "good news is out" market following the announcement of the EU trade deal. They established the position at 1.1680 on July 11, with a target price of 1.20. They also said they still believe that if the dollar continues to weaken in the third quarter, it is more likely to be driven by weak U.S. labor market data. Therefore, despite being forced to exit the market at a stop-loss today, they will still rebuild their dollar short position (possibly against the euro or Swiss franc) before the release of U.S. employment data on Friday.
