The latest CFTC report showed only minor changes in speculative FX positioning - despite relatively high volatility in the markets.
EUR net positioning stood at 30k short, an increase of 1k compared to the previous week. On-going concerns about Italy and a dovish ECB kept the currency under pressure in the past week.
Meanwhile, speculators decreased their bearish bets on the British Pound slightly, bringing the net positioning to 47k short (vs. 50k short previously). Nevertheless, the pressure on the Pound is growing as the Brexit talks continue to drag on.
JPY net positioning stood at 93k short vs 101k short in the previous week. Demand for the Japanese Yen picked up as traders fled to safe havens during the sell-off in equities.
Positioning changes in commodity FX:
AUD short 70k vs short 71k previously
CAD short 7k vs short 11k previously
NZD short 33k vs short 35k previously
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