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Speculative Investors' Bet On EUR's Fall Hit New Record High -CFTC
Speculative traders on the Chicago Mercantile Exchange broke the $28 billion record high for their bet on the EUR's fall, data from the Commodity Futures Trading Commission showed on Friday. Traders increased their open short EUR position by 12% from a week earlier to reach a net of $31 billion as of Tuesday. The single currency lost over %5 against the US dollar on May so far due to the concerns over the possibility of Greek exit combined with the disappointing outcome of the EU summit on Wednesday. But FX strategists at Barclays Capital and other banks warn from some short EUR covering in the near term due to this ... (full story)
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