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Message: [QUOTE="Munyaradzi Mafaro, post: 33361, member: 636"] The euro races toward a three-year high as traders bet on further gains against the dollar. Money managers expect Europe's currency might reach $1.20 soon, a level not seen since mid-2021. Market data shows investors bought mostly options contracts last Friday, betting on euro strength. US tariff policies created economic uncertainty that weakened the dollar's safe-haven appeal. The sharp rise marks the fastest euro rally in almost 15 years. According to market participants, hedge funds are leading the charge in pushing the common currency higher. Mizuho International strategists believe the odds favor reaching the $1.20 target within months. Jordan Rochester, who heads macro strategy at Mizuho, says many investors will join this trend as it gains momentum. What started as an upside risk has quickly become his expected outcome. The currency market already holds significant euro positions but appears ready for more buying. [/QUOTE]