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Cable gets a bit of love

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Weekly futures forex positioning data from the CFTC:

Weekly futures forex positioning data from the CFTC:
  • EUR long 104K vs 100K long last week. Longs increased by 4K
  • GBP long 31K vs 25K long last week. Longs increased by 6K
  • JPY short 50K vs 51K short last week. Shorts decreased by 1K
  • CHF short 1K vs 4K short last week. Shorts decreased by 3K
  • AUD short 1K vs 3K long last week. Flipped to short
  • NZD long 8K vs 8K long last week. No change
  • CAD long 45K vs 44K long last week. Longs decreased by 1K

The pound was the top performer this month in the G10 space and it got a bit of late-month love from speculators as the net position grew to the largest since early March. The high for the year was +36K in March.

The overall net USD short is the largest since late February.

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