The Chicago Mercantile Exchange has taken on more short bets on the Euro than ever before in the currency’s history.
According to FT $7.6 billion in Euro shorts have piled up over the past couple of weeks as there is increasing worry about how the currency area is going to deal with the debt problems of many of its members.
Now over 40,000 contracts against the currency have been taken out on the CME, putting even further downward pressure on the troubled currency.
Spain has been in the headlines today trying to come out on the offensive over concerns their debt will be the next to burst. They are even going so far as to label the the current downward pressure on the Euro and on their sovereign debt as a conspiracy or attack.
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