For the second consecutive week, speculative traders on the Chicago Mercantile Exchange continued to cover their short EUR bets after scoring a series of record highs in May and early June, data from the Commodity Futures Trading Commission (CFTC) showed on Friday. Traders decreased their open short EUR position by 27% from a week earlier to reach a net of $22.4 billion- that is $11 billion below the record high of $33.4 billion - as of Tuesday. A key trigger for the recent EUR consolidation was the outcome of the Greek elections last weekend which as widely expected brought a pro-austerity government. That positive ... (full story)