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Citigroup: These Are the Currencies to Buy After the Fed Meets
Currency traders wondering how to navigate the Federal Reserve’s rate decision on Thursday should look to the U.S. stock market as a guide, according to Citigroup Inc. "The rule of thumb is that you trade European currencies and safe havens if the market response is anomalous – tighten and equities rally, or sound dovish and equities fall,'" Steven Englander, global head of Group-of-10 currency strategy at Citigroup in New York, wrote in a note. "If the market reaction is in the standard direction – rates and equities move in opposite directions – you buy and sell currencies with betas at opposite ends ... (full story)
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