Despite the tumult in Europe, the single currency has been hanging tough. This strategist says it's time to sell.
With all that's going on in Europe, why is the single currency trading as high as it is? Willie Williams, director of global macro sales at Societe Generale, thinks he has the answer. "The market really wants to be short the euro," Williams told CNBC's Scott Wapner, but "with the positioning we currently have in the market, it's proving really difficult to remain short."
In other words, the market overall is so short the euro against the dollar that when investors cover short positions, they can push the pair higher.