Citi says to short euro against … the yuan!
Citi's reasoning is that they expect CNH to outperform against the EUR as the virus spreads outside of China
- The impact in China has been widely discussed & sings are of asset price stability in China
- Outside China though concerns are increasing
- Leading to yuan "may have further to outperform its trading partner currencies in this environment"
- Mention Italy specifically
ps. Note from Monday