It's two years since Germany posted positive retail sales data

Sales fell 2.7% yy in Feb worse than the -0.8% f/c

The lowest estimate by any analyst polled was -1.1%

Traders have consistently bet on EUR/USD rising this year

Liquidation of $3.5bln longs helped push EUR/USD lower from 1.1047 to 1.0695

The liquidation of remaining bets ($6.6bln) may fuel a deeper drop

Traders may soon turn their back on the pound