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Stay Long USD But Don't Get Too Bearish On The EUR - ANZ
Australia and New Zealand Banking Group (ANZ) is out with a note advising clients to stay long USD and to resist the temptation to take profit on their long USD positions yet. "The Fed is heading towards tightening and that is likely to have abrupt implications for financial markets...Generally therefore, we remain USD bullish, particularly against the commodity bloc, Asia, and the yen," ANZ says. For the EUR, however, ANZ argues that the case is more nuanced warning clients to not get too bearish on the single currency. "We continue to remind readers that Europe runs a large and persistent basic balance ... (full story)