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Citi Wealth Insights

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Trump ups the ante on China; EU parliament ups the ante on the Recovery Fund; BoE Governor moves to quash talk of negative rates

USD: President Trump likes a strong dollar – says overnight -“It’s a great time to have a strong dollar because the whole world -- you know, we’re paying zero interest, right. That’s never happened either. We’re paying so low. Everybody wants to be in the dollar because we kept it strong. I kept it strong”.
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Negative rates pricing in US; Some silver linings for the Commodity Bloc; Steep fall in German trade activity

USD: Weaker as – (1) Fed Funds rates turn negative - Fed fund futures (a measure of market’s expectations on the Fed Funds rate) turn negative Friday (-5bp in March 2021).
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