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Forex Flash: EUR shorts keep increasing – Rabobank

FXstreet.com (Barcelona) - The shared currency remains stationed around 1.3080/1.3100 on Monday after a couple of attempts to follow through the key resistance at 1.3100.

According to the last CFTC COT report, Jane Foley, Strategist at Rabobank commented, “EUR shorts increased again but remained well off their recent extremes. A softer USD is

lending EUR/USD support but the EUR is vulnerable to expectations that the ECB could cut rates this week”. Regarding the greenback, Foley added, “USD longs consolidated but in a historical context they remain strong. Four weeks ago positions had climbed to their highest level since the financial crisis began leaving the USD vulnerable to weaker US economic data”.

Forex: USD/JPY bouncing to 98.00

After strong early pressure towards 97.36 low, the USD/JPY is engaging in its attempt to recover the 98.00 ground. The attempt on the European opening was capped at 97.97 high and, following some consolidation, the pair is again at its highs and looking for the 98.00 handle.
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European markets up on Italian politics and expectations ahead of ECB this week

The German DAX 30 (+0.29%), the French CAC 40 (+0.69%), the Italian FTSE MIB (+1.40%) and the Spanish IBEX 35 (+1.10%) are trading strong as most of the European equity indexes as investors cheer this weekend’s news of an Italian coalition government, with PM Lette (PD) forming an alliance with Berlusconi’s PDL party (even though he is not assuming any senior ministerial positions, he remains popular and influential), while Grillo’s Five-Star party refused to join, as expected.
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