World’s Biggest Currency Trader Likes Euro Shorts Versus Yen
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Citigroup Inc., the world’s biggest currency trader, said it prefers to bet the euro will decline against the yen, rather than against the dollar, as traders seek haven assets amid the turmoil in Greece and China.
The yen has strengthened 3.1 percent versus the euro in the past month, outpacing all its major peers. Japan’s currency advanced to the strongest in six week against the euro on Monday after Greek voters rejected austerity measures and China’s stock market rout spurred demand for safer assets.