The two major trends at the start of the year, EUR weakness and USD strength, are showing signs of reemerging, notes CitiFX in its weekly note to clients today. "The recent strength of the EUR and higher yields have left Europe with tighter monetary conditions than when the ECB announced its QE program," Citi adds. "Going forward we struggle to see what will, at this stage, take EURUSD higher. This week’s increased optimism on Greece has not extended its gains and now that short-term pressures are fading the ECB is less likely to be quiet in the event of a stronger currency," Citi argues. On the other side of the ... (full story)