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Jun 22 - 03:55 AM

EUR/USD - Traders Mistakenly Threw $1.6Bln At Long Trade Ahead Fed

By Jeremy Boulton  —  Jun 22 - 02:23 AM
  • EUR/USD traders added $1.6bln to their bullish bets in week ahead the Fed

  • $17.9bln EUR/USD long was largest bet held since beginning March

  • EUR/USD reaction after hawkish Fed revealed fragility of their bets

  • When bets added Jun 8-15 EUR/USD 1.2093-1.2218 diving to 1.1847 on Jun 18

  • EUR/USD longs have been held since March 2020 (EU bond rescue plan)

  • EUR/USD peaked Jan 2021 at 1.2349 trading 1.1704-1.2266 since

  • Volatility has declined adding pressure on EUR undermined by negative rates




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Source:
Refinitiv IFR Research/Market Commentary

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