By Jeremy Boulton — Mar 28 - 04:05 AM
It's two years since Germany posted positive retail sales data
Sales fell 2.7% yy in Feb worse than the -0.8% f/c
The lowest estimate by any analyst polled was -1.1%
Traders have consistently bet on EUR/USD rising this year
Liquidation of $3.5bln longs helped push EUR/USD lower from 1.1047 to 1.0695
The liquidation of remaining bets ($6.6bln) may fuel a deeper drop
Traders may soon turn their back on the pound
Source:
Refinitiv IFR Research/Market Commentary