CFTC Positioning Report: GBP net shorts at highest since late August 2018
|These are the main highlights of the CFTC report for the week ended on July 9:
- Speculators increased their short positions in GBP, taking net shorts to the highest level since 28 August 2018, always on the back of unabated uncertainty in the UK political scenario and unchanged Brexit limbo.
- USD net longs climbed to multi-week highs ahead of Powell’s testimonies at Capitol Hill and the FOMC minutes. It will be interesting to see how the speculative community re-assess the now higher chance of rate cuts later this month.
- On the EUR-side, speculators added shorts to their already bearish view, taking net shorts to 2-week tops in the wake of the ECB meeting, where prospects of (very) near-term easing were unveiled.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.