Speculative traders on the Chicago Mercantile Exchange remained on the defensive for the third consecutive week as they continued covering their short EUR bet, data from the Commodity Futures Trading Commission (CFTC) showed on Friday. Traders decreased their open short EUR position by 4.5% from a week earlier to reach a net of $20.4 billion as of Tuesday. That came in line with the relatively bullish EUR view among market players this week. To express that, Morgan Stanley holds long EUR/USD from 1.2170 targeting 1.26, while Goldman Sachs keeps its long position from 1.2153 targeting 1.30. Traders also significantly ... (full story)