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Flash: EUR shorts kept building up – Rabobank

FXstreet.com (Barcelona) - The shared currency remains in the lower end of today’s range so far, hovering over the 1.2860/65 region after the US Consumer Confidence exceeded expectations in May.

According to the last CFTC COT report, Strategist Jane Foley at Rabobank commented, “EUR shorts continued to increase and now stand at levels not seen since November of last year. EUR shorts still remain well off the levels seen before Draghi’s “whatever it takes” speech”. Regarding the greenback, the expert added that long positions continued to grow in the last week, albeit still below Q1 levels.

“The jump in USD longs was mirrored by an increase in EUR shorts as EUR/USD continues to trade the 1.30 handle”, concluded Foley.

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