CFTC Position Watch - Speculators increasingly bearish on JPY and GBP

Market Analysis /
Milan Cutkovic / 30 Jul 2018

The latest positioning data from the CFTC showed a notable increase in JPY short positions. Net positioning now stands at 74k short vs 59k short previously, an increase of 15k compared to the previous week. The Japanese Yen has lost its appeal as risk sentiment has improved and US rate expectations continue to climb.

JPY
JPY

Meanwhile, speculators added to bullish EUR bets and turned more bearish on the British Pound. EUR longs increased by 8k, bringing the net positioning to 29k long. Concerns about the slow progress made in the Brexit negotiations has put the British Pound under pressure. Net positioning stands at 47k short, an increase of 9k compared to last week.

EUR
EUR
GBP
GBP

There were only minor changes in speculative positioning for the commodity currencies:

AUD short 45k vs short 41k last week

CAD short 44k vs short 47k last week

NZD short 24k vs short 25k last week

AUD
AUD

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