Trade of the week: Holding a long euro position

The Greek rescue package has benefited holders of the euro against the dollar

Friday 22 July 2011 at 07:10

Holding a long euro position whilst shorting the dollar was the trade to make this week, as bullish holders of the single currency benefited following last night’s Greek debt rescue package.

The euro has strengthened from $1.41 against the dollar to $1.44 in the week, as traders buy into the currency and the promise of returning stability in the eurozone.