The latest positioning report from the CFTC shows that speculators haven´t lost faith in the Dollar rally.
EUR net positioning fell from 11k long to 2k long. The currency remains under pressure amid broad risk-off sentiment and lower rate expectations.
Meanwhile, GBP net positioning jumped from 59k to 61k short. The market sees a no-deal Brexit as possible, which should keep the British Pound under pressure in the near-term. The clear break below 1.30 will likely attract further selling, with the next significant support level now at 1.25.
Speculators cut their JPY short positions slightly, as the Japanese Yen benefited from the risk-off sentiment. Net positioning stood at 58k (vs. 63k in the previous week).
Positioning for the commodity currencies:
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Stocks soar, powered by first-rate earnings and a dazzling run of economic data; Gold plays catch as G10 falls flat while oil basks in the afterglow