IMM Report: EUR net short positioning rose 20% despite recovery – Rabobank
FXStreet (Córdoba) – Christian Lawrence, Senior Market Strategist at Rabobank notes that EUR net short positions rose despite the recovery in the euro. He also notes that JPY shorts continue to decline.
Key quotes:
“The pull back in EUR net short positioning seen over recent weeks was partly unwound as net shorts increased 20% despite EUR edging higher.”
“Net USD longs have edged lower having dropped more sharply the previous week. Expectations of a September Fed rate hike continue to diminish with the market now pricing in a 30% chance of a hike this week while analyst surveys are more hawkish, pointing to a 50/50 split.”
“JPY shorts continue to decline as the currency finds support from the current global safehaven bid. The Bank of Japan policy statement this week will be closely monitored for any hint at further easing or comments relating to the currency.”
Christian Lawrence, Senior Market Strategist at Rabobank notes that EUR net short positions rose despite the recovery in the euro. He also notes that JPY shorts continue to decline.
(Market News Provided by FXstreet)