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Forex Flash: EUR shorts continued to retreat – Rabobank

FXstreet.com (Barcelona) - The single currency remains in the negative ground on Monday, hovering over 1.3050 after hitting session highs around 1.3085 on the Italian election results.

According to the last CFTC COT report, Strategist Jane Foley at Rabobank argued that investors continued to scale back their EUR short positions last week. “EUR/USD remains above the 1.30 handle but speculation about the possibility of an ECB rate cut fueled by comments from Weidmann still lingers”, added Foley.

Regarding the greenback, the expert commented, “USD longs fell slightly again this week but in a historical context they remain strong”.

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