Fed to cut rates by 50bps in July - Citibank

The Citigroup strategists are out with their call on the July Fed rate cut following the dovish comments from Fed Vice-President Clarida and NY Fed President Williams.

Key Quotes:

"So close to the blackout period that emphasized the case for early action.

It supports a tactical bearish view on the USD and tips the scales to a 50bp cut.

Short USD against CAD, AUD and NOK.”