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Euro Short Bets at Record as Traders Look Past Greece

From bloomberg.com

May 3 (Bloomberg) -- Futures traders are more bearish than ever on the euro as Greece’s fiscal crisis spreads, suggesting further declines ahead for Europe’s shared currency. Hedge funds and other large speculators raised net wagers on a euro drop by 25 percent to 89,013 contracts in the week ended April 27, Commodity Futures Trading Commission data shows. The euro weakened to $1.3231 at 6:56 a.m. in New York after falling to a one-year low of $1.3115 on April 28 as Standard & Poor’s lowered Greece’s debt to junk and cut Portugal and Spain. (full story)

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