Euro to Drop to $1.335o as Futures Traders Cut Bets on Gains, Mizuho Says

(Bloomberg) -- The euro may fall to a seven-week low
of $1.3350 against the dollar as investors continue to unwind
bets on the currency, said Michiyoshi Kato, a senior currency
dealer in Tokyo at Mizuho Corporate Bank Ltd.

Hedge funds and other large speculators reduced bets the
euro will rise by 20 percent on May 22 from the previous week,
the biggest decline in three months, figures from the Commodity
Futures Trading Commission in Washington showed. The euro has
dropped 1.2 percent since May 15, when investors were speculating
on the currency's advance in record numbers.


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