By Jeremy Boulton — May 22 - 02:40 AM
Added chart
EUR/USD traders have established a huge $25.4 bet on pair rising
Recently traders still buying while the pair is falling
Last week's 1.0760 EBS low was the lowest since March 27
$6 billion of the longs currently held were underwater at 1.0760
$2 billion were added while the pair dropped from 1.1050 to 1.0760
In the six months EUR/USD traders long this year loss due carry are 1%
Big speculative bets of this size are reverse indicators
Falling option vols flag diminishing chance of the moves traders hope for
Source:
Refinitiv IFR Research/Market Commentary