Global banking house Citigroup has taken profit on its long EUR/USD and GBP/USD positions, a research note confirms.Bloomberg reports that while the group maintains a long-term bullish stance on both the pound and the euro against the dollar, it is selling off the long currency pairs, reacting to rapid market movements.In a research note yesterday (November 9th), Tom Fitzpatrick, chief technical analyst at Citigroup in New York, wrote: "Given the speed of the short-term moves here, we have decided to take profit on our long euro-dollar and pound-dollar positions."During yesterday's trading, the dollar continued to weaken against the euro as risk appetites grew broadly across markets and asset classes.In New York, stocks rose to a new high for the year after reassurances from G20 states that there would be no hasty withdrawal of fiscal stimulus instruments designed to promote stability in the global economy.Last week, the pound climbed against the euro after the Bank of England announced a £25 billion extension to its asset purchase programme and a no-change vote on interest rates.