Non-Commercials increased their net long positions in the Euro last week buying a further 7.5k contracts to take the total position to 91k contracts. The Euro has been steadily bought over the last month as markets continue to shift their perspective in line with the ECB. Recent commentary from ECB chief Draghi has stoked market expectations that the ECB are on the verge of announcing further tapering measures. However, at the bank’s recent July meeting the ECB seemed to take a small step backward highlighting that the ECB will remain in the market for a long time as early tightening would jeopardise the recovery and ... (full story)