July 16, 2024 – Written by John Cameron
Leave a comment STORY LINK The Pound to Euro Rate Consolidates Below 11-Month Best
The Pound to Euro (GBP/EUR) exchange rate hit 11-month highs at 1.1920 on Monday before consolidating around 1.1895 on Tuesday.
COT data released by the CFTC reported a fresh surge in long, non-commercial Sterling positions to just under 85,000 in the latest week from 62,000 the previous week and the largest long position on record.
As far as Euro positioning is concerned, there was a small net positive position after a net short position previously.
The…
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