FXstreet.com (Barcelona) - Following aggressive short-covering the previous week, speculators moderately re-built their shorts, according to Jane Foley, senior FX strategist at Rabobank. "This appeared to be in line with general market scepticism in the approach to the Jun2 28/29 EU summit," she said.
That said, USD longs eased further. "Given recent spot moves another fall does seem likely in this week’s data," she pointed.
About the Yen, the strategist said that "longs also dropped back, breaking the 10 week climb in a positive direction." "CHF shorts were re-enforced after the previous week’s short-covering and AUD shorts declined a little further after the previous week’s aggressive move." Foley added.
That said, USD longs eased further. "Given recent spot moves another fall does seem likely in this week’s data," she pointed.
About the Yen, the strategist said that "longs also dropped back, breaking the 10 week climb in a positive direction." "CHF shorts were re-enforced after the previous week’s short-covering and AUD shorts declined a little further after the previous week’s aggressive move." Foley added.
