Citi Advises Positioning For Euro Uptick

Strategists at Citigroup are recommending a three-week euro call/ U.S. dollar put with a strike of USD1.325 and double knock-outs at USD1.31 and USD1.37. The rationale is to capture what the firm believes will be a fast, but modest, uptick in the euro amid the proposed bailout for Greece now that the country has more incentives to adhere to the provisions set out in the rescue package.