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Nov 04 - 03:55 AM
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EUR/USD - Short Covering Dominates Post-Election Flows
By Jeremy Boulton — Nov 04 - 03:17 AM
• Democrats win majorities in both Senate, House in stunning sweep
• EUR/USD rises to a more than two-week high at 1.1262
• Traders were running heavily short of euros ahead election
• $20billion short was bigger bearish wager since 2015
• Uncertainty stemming election shock encouraging profit taking
• Stops likely over Oct 16 high at 1.1269 and Oct 6 peak at 1.1276
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EURUSD
(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters