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Forex Flash: EUR shorts extended its momentum – Rabobank

FXstreet.com (Barcelona) - The euro is consolidating its momentum above the key handle at 1.3000 on Monday, extending last week’s upside after the ECB gathering and the tepid result from the US Payrolls.

According to the last CFTC COT report, Strategist Jane Foley at Rabobank commented that short positions continued to build up, adding “Even though many of the tensions stemming from the Cypriot bail-out have eased, speculation of a potential ECB rate cut could have weighed on the EUR last week”.

Regarding the greenback, Foley argued, “USD longs held largely steady having reached their strongest levels since the financial crisis began the previous week”.

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