• EUR/USD which reached 2025 high at 1.1632 Thursday dips after Israel strike

• Friday's 1.1512-1.1613 with pair last trading 1.1551

• Bets on a rise have probably grown from the $12 billion held week by June 3

• Conflict is cause to pare risk - easier choice as most bets are profitable

• Oil has surged which will undermine EUR/USD

• Rally is stretched at 1.1559 peak of the 20-day Bollinger Bands

• Good reason to exit FX positions traders determined to hold

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EURUSD

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)