Net Euro Shorts Spike, Regain Record Highs, As Dollar Longs Surge To Highest Since August 2008

This week's risk aversion trade is nowhere more evident than in the spike of Net eureo shorts for the week ended April 27, as reported by the CFTC. After having retreated to as low as 66k two weeks ago, the net speculative position in the european currency has surged, hitting record resistance in the 97k range. (see chart below). And even as Europe fears drove speculators to abandon the euro, the one currency which is sitting in no man's land, the USD, this week saw net longs rise to the highest value since August of 2008. Feel free to oull up a chart fo the EURUDF pair and see when the last time it was preparing to blow out so wide was,