Forex Flash: Euro benefiting from year end adjustment – BTMU
FXstreet.com (Barcelona) - The Euro looks to be benefiting from a year end adjustment, with speculators cutting back modest short Euro positioning towards neutral notes Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ.
He continues to see that the high beta Australian and New Zealand dollars have also underperformed over the past week despite improving risk sentiment as speculators likely trim record long positions. Also recent fundamental developments of note are that Italian PM Monti has signalled his readiness to lead an alliance of centrist pro European parties in next year's general election. The opinion polls would suggest that the alliance would have little chance of winning but could negotiate a significant role in a coalition.
He continues to see that the high beta Australian and New Zealand dollars have also underperformed over the past week despite improving risk sentiment as speculators likely trim record long positions. Also recent fundamental developments of note are that Italian PM Monti has signalled his readiness to lead an alliance of centrist pro European parties in next year's general election. The opinion polls would suggest that the alliance would have little chance of winning but could negotiate a significant role in a coalition.
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