Barclays closes out pro-dollar FX bet

LONDON, April 28 (Reuters) - Barclays (LSE: BARC.L - news) was the latest major bank to soften its stance on the dollar on Tuesday, forced to close out its rolling recommendation to buy the greenback against the euro after the past month's improvement for the single currency.

The strategy team at the foreign exchange market's third biggest player said it had closed its position, originally taken when the euro was around $1.28, with a 14.8 percent profit since last August.

The U.S. currency has fallen 4 percent against the euro in the past six weeks and it lost another half percent on Tuesday to trade at $1.0950.

Their moving "stop-loss" order to sell the dollar and prevent more losses was triggered by the euro's move above $1.0897 late on Monday on the back of hopes Greece will do a new deal with its international creditors early in May.

"We remain bearish on the euro," the bank said in a note emailed to clients on Tuesday.

"We believe that the euro has much further to go in its trend depreciation, albeit at a slower pace and with two-way risks attached ... but the recommendation was a casualty of the slowing trend."

A number of other major banks have said over the past month that the dollar's almost year-long rally against a raft of other currencies was set to slow. (Reporting by Patrick Graham; Editing by Jamie McGeever and Crispian Balmer)