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Flash: EUR shorts still growing – Rabobank

FXstreet.com (Barcelona) - The shared currency is flirting with 1.3100 the figure on Monday, after worrisome US data sparked a needle-like ascent from lows around 1.2960 to levels just shy of 1.3120.

According to the last IMM Net Positioning report, Analyst Clarence Lawrence at Rabobank commented, “EUR net shorts continued to increase albeit at a much slower pace than seen in the past two weeks. EUR shorts still remain well off the levels seen before Draghi’s “whatever it takes” speech”.

When comes to the greenback, the expert argued that net long positions remained almost at previous levels, although still in the upper quartile. “The jump in USD longs was mirrored by an increase in EUR shorts as EUR/USD continues to trade the 1.30 handle”, he concluded.

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