US mutual funds slash short euro positions at record pace

- By Joe Parsons
- @Joe_Parsons416
- 13 Jan 2026

US mutual fund and exchange-traded fund managers cut $7 billion of euro/US dollar FX options positions during the third quarter of 2025 – the largest drop in the currency pair since FX Markets began collecting data on US mutual funds in 2020.

A decline in short euro bets accounts for the lion’s share of a combined $7.9 billion fall in G10 currency FX options positions during the quarter.

The largest position shift was a $5 billion reduction in EUR/USD put options, which profit when the dollar

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