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Support grows for single currency

Posted on 27 August 2013

The euro edged lower against the dollar on Monday as investors took profits from recent gains on signs support for the single currency was gaining momentum. Having climbed 0.4 per cent last week, outperforming against a broadly stronger dollar, the euro gave back 0.1 per cent to $1.3373 on Monday.
Data from the Commodity Futures Trading Commission on the trading positions of institutional investors, however, showed confidence in the euro had built to such an extent over the last five weeks, that net long positions – the number of investors betting on further gains minus those betting on losses – had risen to the highest levels since May 2011………………………………………..Full Article: Source


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