CFTC Positioning Report: GBP net shorts retreated to 3-month lows

These are the main highlights of the latest CFTC Positioning Report for the week ended on October 15^th:

• Both gross longs and shorts in GBP went down during last week, although that was enough to drag the net short position to the lowest level since July 2^nd, always on the back of rising hopes of a Brexit agreement. Ultimately, the UK and the EU reached a deal after the cut-off date, although uncertainty still persists.
• Speculators sold the Japanese safe haven JPY and pushed it back to the negative territory for the first time since late July. The better tone in the broader risk-appetite trends continued to sustain the outflows from the safer assets.
• USD gross longs/shorts shrunk for the second consecutive week, taking the net longs to 5-week lows. Deteriorating US data releases, the ‘Phase One’ deal between the US-China and the improved sentiment in the risk complex hit the mood in the buck during last week.