2010-08-20

Euro shorts come back


As expected given the behavior of the euro versus the U.S. dollar in the past week, the speculative shorts returned. It wasn't a large reversal though, just back to the level seen two weeks ago. However, over that period, the euro has lost four weeks of gains. This continues the pattern of euro weakness, where bullish short covering led to small gains and now a small increase in bearishness was accompanied by a large decline in the euro.

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