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Bank of America reports strong euro demand amid its decline
The euro continues to draw support from institutional investors, who see the currency's decline as a buying opportunity, according to Bank of America’s report.
The financial institution noted that hedge funds increased their dollar positions last week, particularly against the euro. Meanwhile, institutional players, primarily European ones, took the opposite approach, continuing to buy the currency amid its decline.
Bank of America highlighted strong demand for the euro as last week's key market development. Despite rising volatility, the currency continued to attract institutional investor interest.
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