Money managers using IMM currency futures were major sellers of dollars during the week ending October 20. As a result many were caught on the wrong side following the dovish ECB statement last Thursday. Bearish bets on the euro and the yen were reduced to their lowest in 15 and 36 months respectively and this helps to explain the very high trading volumes seen last Thursday as traders scrambled to adjust positions.
from Ole Hansen - Authored content http://ift.tt/1Wd8p2I
COT: Dollar longs slumped just before ECB
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