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CACIB write that while they're bullish on......>

EURO
EURO: CACIB write that while they're bullish on the EUR in the coming months,
concerns may grow in the near-term that the rally's been overdone.
-CACIB add that the ECB may acknowledge the latest aggressive moves in FX space
as well as the resulting tightening in financial conditions at January 25th's
ECB meeting, where ECB President Draghi could take the opportunity to talk the
currency down. This, twinned with the risk of a minority M5S government in
Italy, could prompt investors to take profits on their EUR longs.
-On this topic, it's worth revisiting last week's CFTC data which showed EUR
long positions rise to the highest on record. 

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