FXstreet.com (Córdoba) - The Euro is extending its recovery
against the Dollar and currently is testing levels above 1.3200.
EUR/USD tumbled to 1.3152, daily low, a few hours ago and the
recovered some ground. A few minutes ago the Euro broke above
1.3200 and rose slightly to 1.3206, reaching the highest price
since the American session started.
Current price at 1.3201/04 is 0.97% below today's opening price.
According to Michael J. Malpede, analyst at Easy Forex the Euro
remains vulnerable to fears of contagion of sovereign debt risk in
Europe and widening of yields and growth differentials.
"The CFTC commitment of traders for the IMM released on Friday
shows that hedge funds and speculators increased their net short
EUR positions by
25%", Malpede said.