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Euro under bearish grip, slides 3.50% against US dollar this month As on : 26-Nov-24  15:35

Euro is trying to stabilize today after recent slump but is placed precariously around one year low. The single currency has been under pressure given worries over economic health of leading regional economic Germany and is currently quoting flat at 1.0570 against the US dollar. EUR/USD pair has lost around 3.50% this month so far. Large currency speculators in the Euro futures market further added to their net short position, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Euro futures, traded by large speculators and hedge funds, totaled a net short position of 42557 contracts in the data reported through November 19, 2024. This was a weekly rise of 35120 net short contracts.

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