Traders and hedge funds have bet nearly $8bn (€5.9bn) against the euro, amassing the biggest ever short position in the single currency on fears of a eurozone debt crisis. Figures from the Chicago Mercantile Exchange showed that investors increased their positions against the euro to record levels in the week to Feb 2. The build-up represents more than 40,000 contracts traded against the euro, equivalent to $7.6bn, and suggests a loss of confidence in the euro’s ability to withstand contagion from Greece’s budget problems.

This entry was posted by Gwen Robinson on Tuesday, February 9th, 2010 at 5:24 and is featured in The 6am Cut London (9 Feb 2010) . Tagged with cme, euro, Greece. Edit this entry.