I have closed out my euro positions. I wanted to take advantage of the euro strength while it is there even though it seems there could be a lot further to run. The drawdown has taken away any neutral perspective I may have so I felt it better to get out, even if it means missing the move.
I have also reduced my USDJPY position, in part to cover the losses from the euro trades.
I have left the EURCHF trade open, with an eye on possible intervention.
There is very interesting fundamentals coming out at the moment and it ties in well with the Currency Wars book I am reading at the moment. I might take the weekend to reconfigure before thinking about some new trades.
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