"The AUD saw an almost doubling of net long positions to +26.4k; the highest since early May. There was also a small rise in net longs in the NZD" NAB notes.
"This positioning data comes before the big risk rally later in the week. We would estimate that these positions were extended later in the week. It now recommends being overweight in GBP and JPY, while showing an underweight in CAD" NAB adds.