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29 Apr 2013
Forex Flash: EUR shorts keep increasing – Rabobank
FXstreet.com (Barcelona) - The shared currency remains stationed around 1.3080/1.3100 on Monday after a couple of attempts to follow through the key resistance at 1.3100.
According to the last CFTC COT report, Jane Foley, Strategist at Rabobank commented, “EUR shorts increased again but remained well off their recent extremes. A softer USD is
lending EUR/USD support but the EUR is vulnerable to expectations that the ECB could cut rates this week”. Regarding the greenback, Foley added, “USD longs consolidated but in a historical context they remain strong. Four weeks ago positions had climbed to their highest level since the financial crisis began leaving the USD vulnerable to weaker US economic data”.
According to the last CFTC COT report, Jane Foley, Strategist at Rabobank commented, “EUR shorts increased again but remained well off their recent extremes. A softer USD is
lending EUR/USD support but the EUR is vulnerable to expectations that the ECB could cut rates this week”. Regarding the greenback, Foley added, “USD longs consolidated but in a historical context they remain strong. Four weeks ago positions had climbed to their highest level since the financial crisis began leaving the USD vulnerable to weaker US economic data”.