Most Bearish Euro Bets Since 2016 Could Mark Low for Currency
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The build-up of market bets against the euro might signal the prospect of a tentative recovery for the struggling currency.
Hedge funds and other speculators increased bearish positions on the euro to the most since December 2016, the latest data from the Commodity Futures Trading Commission show. With net shorts at 78,166 contracts in the week through March 5, it might be time to reassess whether this could translate into more losses or if most of the negatives are already in the price, according to Valentin Marinov, the head of currency strategy at Credit Agricole SA.