Up until the QE∞ announcement, euro traders have generally been trend-followers, says CitiFX,...

|By:, SA News Editor

Up until the QE∞ announcement, euro traders have generally been trend-followers, says CitiFX, but since, traders have gotten bearish even as the currency is basically flat. Combined with Citi's belief the euro is trading 300 pips rich to its swap-spread and the group recommends selling any rallies in the currency.