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15 Apr 2013
Forex Flash: EUR shorts keep shrinking – Rabobank
FXstreet.com (Barcelona) - The single currency remains sidelined in the vicinity of 1.3070/80 on Monday, as markets alternate the risk-on and risk-off trade. Furthermore, catalysts remain absent and data or results in both European and US dockets are scarce.
According to the last CFTC COT report, Strategist Jane Foley at Rabobank commented, “EUR shorts managed a reasonable recovery as Cypriot tensions eased further. Speculation of a potential ECB rate cut will likely remain a risk for the EUR in the weeks ahead”.
Regarding the greenback positioning, Foley argued it remains strong although traders slightly scaled back their longs last week. “Two weeks ago long positions had climbed to their highest level since the financial crisis began”, concluded the expert.
According to the last CFTC COT report, Strategist Jane Foley at Rabobank commented, “EUR shorts managed a reasonable recovery as Cypriot tensions eased further. Speculation of a potential ECB rate cut will likely remain a risk for the EUR in the weeks ahead”.
Regarding the greenback positioning, Foley argued it remains strong although traders slightly scaled back their longs last week. “Two weeks ago long positions had climbed to their highest level since the financial crisis began”, concluded the expert.