Citigroup expects no dollar gains

[Femi]

Currency strategists at Citigroup noted in a comment about euro/dollar situation that after the falling common European currency against the greenback was held near a 200-day moving average and daily indicators showed sings of oversell, it would be reasonable to expect profit taking by bearish traders on the back of foregoing sharp declines during the most December. The single European currency is trying to recover and at present tries to break up offers above the level at $1,4420. Citigroup suppose the bulls have chance to more active recover. The biggest American bank see recent euro declines as a correction and thought the the euro exhausted its potential and in coming weeks and months, the upward trend which dominated before, is likely to be renewed. (www.ifcmarkets.com)