In the week ending Tuesday 10 April, leveraged funds cut long JPY positioning, which decreased to 26% from 30 % the previous week, points out the research team at Nomura.
Key Quotes
“The 1y high in JPY net-long position is 36%, recorded in April. In contrast, asset managers increased long JPY positioning from 18% to 21%.”
“GBP&EUR: Sterling net long positioning fell from 58% to 55%, maintaining a level close to the 1y high of 59% recorded in February. On the other hand, leveraged funds built up EUR net long positioning to 16% from 12% the previous week. The 1y high for net-longs is 41%, which was reached in January.”
“CAD: Leveraged funds increased short CAD position slightly from 55% to 56%. The 1y high in CAD net-short positioning is 69%, recorded in May. Asset managers remained CAD net-longs, currently at 15%.”
“USD: Our BIS volume-weighted proxy shows that leveraged funds slightly decreased net short USD positioning from 20% to 19%. Net short positioning has been maintained since January 2018.”
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