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Oct 24 - 04:55 AM

EUR/USD - CORRECTED-BUZZ-EUR/USD Traders Gamble More Cash On An Unlikely Result

By Jeremy Boulton  —  Oct 24 - 02:50 AM

Removes incorrect details on ECB hike, adds details EUR/USD drops

  • A 30% increase in bets EUR/USD rises

  • Largest long position since June when traders last bet big on ECB

  • Pair fell 1.0369-1.0018 after June hike, fell 1.0198-0.9528 after Sep hike

  • Oct 27 ECB is expected to hike by 75bps to 2.00%

  • Oct 13 ECB sources suggest terminal rate just 2.25%

  • Oct 24 EUR/USD boosted by Friday's BOJ intervention reaches 0.9899

  • Pair has traded between parity and 0.9600 in October

  • EUR/USD has consolidated a massive sell-off from 1.22-23 below parity

  • Strong chance that trend maintained and drop extends below 0.9500


Source:
Refinitiv IFR Research/Market Commentary

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