Futures Traders Erase Bets for Euro Drop Against U.S. Dollar
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Futures traders reversed bets that the euro will decline against the dollar, wagering for the first time since August 2011 that the shared currency will gain, figures from the Commodity Futures Trading Commission show.
The difference in the number of wagers by hedge funds and other large speculators on an advance in the euro compared with those on a drop, so-called net longs, was 5,126 on Jan. 1, compared with net shorts of 2,549 a week earlier. The figures reflect holdings in currency-futures contracts at the Chicago Mercantile Exchange as of Tuesday.