In the week ending 6 March, leveraged funds continued to reduce JPY short positions, for a fourth consecutive week, notes the research team at Nomura.
“JPY net short positioning stands at 9% of outstanding contracts, from 20% previously. Meanwhile, leveraged funds scaled back net longs to 47% (from 51%).”
“CHF: Following the Italian election, data suggests leveraged funds increased net short CHF positioning to 23% of outstanding contracts. Asset managers have swung from being positioned 2% net long to 11% net short.”
“GBP: Leveraged funds reduced long GBP positions to 43% of outstanding contracts, from 51% – moving away from the 1y high of 59% net long. Asset managers also added slightly to short positions.”
“EUR: As of last Tuesday, leveraged funds had pulled back EUR net longs slightly to 22% of outstanding contacts, from 27%. Asset managers modestly added to long positions and are now 40% net long.”
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