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Appaloosa's Tepper: Short the euro

Hedge fund titan David Tepper is dipping his toes into the currency waters.

The head of Appaloosa Management said he's taking a position against the euro, a move that comes amid shifting sands in the global foreign exchange market.

Speaking at the Robin Hood Investors Conference in New York, the billionaire head of the $20 billion firm said he anticipates the European Central Bank loosening policy ahead as the region seeks to stave off yet another recession.

The euro has fallen 7.5 percent against the U.S. dollar this year.

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