Economics
With Euro Bears This Rabid, Pimco Says Shorts a Risk
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Sentiment in the foreign-exchange market is so bearish toward the euro that it’s bullish.
Hedge funds and other large speculators have now wagered more on a decline in the 18-nation currency than about any time in the past two years, based on Commodity Futures Trading Commission data. The last two times pessimism reached fevered levels -- in May 2010 and June 2012 -- the euro rallied.