CFTC Positioning Report: GBP net longs in highest level since April 2018

Pablo Piovano FXStreet

These are the main highlights of the latest CFTC Positioning Report for the week ended on January 14^th:

Net longs in the sterling climbed to the highest level since late April 2018 on the back of rising optimism regarding negotiations for a EU-UK trade deal, expected to kick in later in the year. The recent dovish comments from BoE officials (following the cut-off date) weighed on the pound in the second half of the week and would surely be reflected in the next report.
Easing geopolitical concerns, mainly in the Middle East, have been sustaining the exodus from the safe haven universe and echoed on the higher net short position in the Japanese yen.
EUR net shorts retreated to the lowest level since late August 2019, as speculations on a better performance of the region this year appear to support investors’ sentiment.

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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