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Citi abandons call for euro fall through parity with dollar

 | March 20, 2017

The note also said the bank's base case was a defeat of Marine Le Pen in French elections in May that would remove a premium for political risk from the euro.

citibankCAIRO: Citi is the latest major bank to abandon its headline forecast for a fall in the euro to below parity with the dollar, upping its prediction for the single currency over the next six to 12 months to US$1.04 from US$0.98 previously.

In a note sent to clients late on Friday, analysts from the world’s biggest currency trader said signs President Donald Trump’s fiscal and tax plans may be delayed while he deals with healthcare weakened the case for a broadly stronger dollar.

The note also said the bank’s base case was a defeat of Marine Le Pen in French elections in May that would remove a premium for political risk from the euro.


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