CFTC report: USD net longs kept retreating
|These are the main highlights of the latest CFTC report for the week ended on December 18:
- Speculators kept trimming their USD longs positions, which reached the lowest level since early September 2018. Optimism around US-China trade negotiations and, particularly, the possibility that the Fed could re-assess its monetary stance this year are among the salient headwinds for the buck in the near to medium term.
- As a consequence of the above, EUR net shorts decreased to 4-week lows, mainly supported by a better tone in the riskier assets.
- GBP net shorts climbed to multi-month peaks on the back of unabated Brexit jitters. In this regard, the House of Commons will vote on January 15 on PM May’s Brexit plan.
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