Euro Rally Turns Into a Renaissance on EU’s Landmark Rescue Fund
- Net long positions on euro the highest on record: CFTC data
- EU rescue deal has shifted currency’s paradigm to the better
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There’s been a seismic shift in the euro’s fortune.
Money managers are the most optimistic they’ve ever been on prospects for the common currency after its best month in almost a decade. And demand for European assets is so high that the currency is within a whisker of being more expensive than the dollar for the first time since funding pressures jumped earlier this year.