EUR is the most extreme short-positioned currency in the G10, notes Morgan Stanley. "However, despite the latest readings of the MS FX Positioning Tracker showing there has been scaling back of EUR short positions, the EURUSD rebound has remained limited," MS adds. Short-lived corrections: "In recent months, there have been a couple of examples of short EUR-position adjustment resulting in only limited correction rebounds. This we believe is evidence of the more structural outflows now developing from the Eurozone, keeping the EURUSD downtrend intact," MS argues. However, MS notes that EUR rebounds on several ... (full story)