While you were sleeping: Euro's dead cat bounce?

Mon, 04 Jun 2012

June 5 (BusinessDesk) - The euro has gained from a two-year low against the greenback and a more- than decade-low against the yen as various technical measures it was due for a bounce. But traders aren't yet convinced. So-called net shorts betting the euro will fall against the US dollar rose to a record 203,415 contracts in the week ended May 29, Bloomberg reported, citing Commodity Futures Trading Commission data. The 14-day relative strength index of the euro was at 14 last week on a scale where a reading below 20 means a currency is poised...

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