Monday, May 3, 2010
Euro Getting Pummelled
I know the link between euro weakness and market weakness has gotten much weaker, but the weakness in the euro is sticking out like a sore thumb. Down near its 52 week lows and off 1% today. That is a big move in FX, and it tells me that risk is being taken off the table. The hedge funds are having a field day today since they're favorite position right now is short euro.
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