Non-Commercials reduced their net short positions in the EUR last week buying a fucker 12k contracts to take the total position to -8k. This latest adjustment means EUR short positions are now at their lightest levels in four years. Traders have been steadily unwinding long held short positions as hawkish ECB expectations have grown stronger over recent months. At their last meeting, ECB chief Draghi declared victory against deflation and sounded upbeat regarding the economy. Markets have quickly moved to price in a rate hike by next year, fuelling the aggressive level of short squaring seen. The latest data print ... (full story)