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Citibank: sell EUR/NZD

Citibank strategists recommend going short on EUR/NZD with a target of 1.5000.

In their view, in the coming days the pair could move lower. Strategists see the German Ifo business climate as a risk event for the pair. Recent efforts by various officials around the world to alleviate global growth concerns should support market risk sentiment and weigh on EUR/NZD. Unchanged policy outlook from the RBNZ this week could also support the kiwi. All that could push EURNZD lower to move more in line with the EUR-NZD 2-year rate spread. 

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