FXStreet (Bali) – According to the IMM data for the week ended August 18, Specs sold $5.5bn USD, cutting net USD longs to $40.9bn (as of Tuesday), reports the Global FX Strategy Team at Nomura.
Key Quotes
“Since then, including after the Fed minutes, USD longs have continued to get cut, with longs finishing the week at $38.3bn.”
“EUR shorts were cut to the tune of $3.1bn through Tuesday and an additional $0.5bn since. This brought estimated positioning in EUR to -$12.3bn currently, which is the least net short EUR has been since July 2014.”
“Specs bought $0.6bn of GBP on the week ended Tuesday, and additional $0.1bn since. This has brought positioning to an estimated -$0.3bn, which is the least net short GBP has been since October 2014.”
(Market News Provided by FXstreet)