The short position in the euro is "fairly extreme, so it doesn't take much for it to bounce back" against the dollar, says Axel Merk of Merk Investments, in an interview. His currency fund has sold euros for the Canadian and Singapore dollars, betting that they'll outperform other major currencies in an environment in which central banks in the U.S., Europe, Japan and UK are all likely to print more money this year, in some shape or form, to stimulate their economies. The euro popped higher against the dollar to $1.2492 from $1.2435 late Friday, according to EBS via CQG.
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