Smart money should bet on a stronger EUR and a weaker USD - that is the message from the speculative traders on the Chicago Mercantile Exchange in the last IMM report for the year, data from the Commodity Futures Trading Commission (CFTC) showed on Friday. Traders continued to cut their EUR bets slashing their short EUR position by 77% after cutting it by another 70% last week to reach a total of $420 million as of Tuesday (smallest short EUR position for the year). In a parallel move, traders slightly added to their short USD position by increasing it by 1.8% to reach a total of $7.7 billion ... (Read the full story)
