Bets against Euro hit highest level since December 2016

Large currency speculators boosted their bearish bets on the shared currency to highest in over two years in the week ended April 23, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The total net position in non-commercial futures contracts traded by large speculators and hedge funds stood at -105,418 contracts – the highest since December 2016 when the total was -114,556 contracts.

Traders seemingly boosted bearish bets in response to a string of weak Eurozone economic data and upbeat US retail sales released during the reporting period.