(Amends headline)

• Traders squeezed from euro shorts then rushed to buy

• Turn from shorts to longs occurred after EUR/USD reached 1.0947

• EUR/USD added 8 pips to the rise reaching 1.0955 then fell to 1.0795

• $8.1 billion wager on a rise is largest since October 2024

• Speculative bets are reverse indicators

• Whatever outcome on Apr 2 tariff deadline, traders predisposed to sell

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EURUSD


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