Citi says markets looking for essential ECB tightening - see EUR potentially above 1.17

Snippet from eFX

For bank trade ideas, check out eFX Plus.

"EUR continued fluctuating post the European close and into Asian trading. Our traders noted that post ECB's Villeroy's push back on hawkish rhetoric, the lacking response showed that markets see tightening as essential this year," Citi notes.
"CitiFX Technicals also sees developments in the US-German 10y spread potentially supporting EUR. That upside case puts the 1.1483-1.161 resistance range and potentially 1.17+ are on watch," Citi adds.