Nov. 9 (Bloomberg) -- Investors should end bets that the euro and the pound will rise against the dollar, according to Citigroup Inc.
“Given the speed of the short-term moves here, we have decided to take profit on our long euro-dollar and pound-dollar positions,” Tom Fitzpatrick, chief technical analyst at Citigroup in New York, wrote in a research report today. “Overall, we maintain a bullish view on both pairs and may look for further opportunities later.”
The pound rose 1 percent to $1.6773 as of 1:23 p.m. in London, its fifth straight increase. The euro gained 1 percent to $1.4990.
