sellers. Back in February, I wrote a notes
arguing that the fixation on the IMM/CFTC short positions in EURUSD was
misplaced, and that there would likely be different and bigger ... potential EUR sellers:
There has been a curious amount of attention paid to the IMM/CFTC
position in EURUSD, which shows a 'record short' of around USD 9
billion. Both foreign ... fixation on such a narrow measure of market position is mis-leading. First,
the IMM/CFTC data captures trades by CTAs, which have only USD70
billion under management, equivalent to around