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Review: Citi renounces base case for euro drop to below parity with dollar

Citi abandoned its base case for a drop in the euro lower than parity with the dollar, raising its forecast for the single European currency for the next 6-12 months to $1.04 from $0.98.

In a note sent to customers late Friday, analysts from the world's largest currency trader said that U.S. President Donald Trump's tax plans may be postponed while he is fully occupied with healthcare, that weakens the basic scenario for strengthening of the dollar.

The note also said that the Citi's base scenario was a failure of Marin Le Pen in the French elections in May that would remove political risks from the euro.

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