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Speculators Keep Boosting Their EUR Longs For The 4th Consecutive Week
For the fourth consecutive week, speculative traders on the Chicago Mercantile Exchange are betting on a stronger EUR, data from the Commodity Futures Trading Commission (CFTC) showed on Friday. Traders added another 40% to their long EUR bet this week after increasing it by 30% last week to reach a total of $6.4 billion as of Tuesday. In a parallel move, traders added 4% to their anti-USD bet this week after reducing it by 30% last week to reach a total of $11.2 billion as of Tuesday. Looking ahead, the EUR may still continue to consolidate lower next week with most of the good news priced in, says BNP Paribas. ... (full story)
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