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Demand For Yen Picks Up Amid Risk-Off Sentiment

Published 29/10/2018, 01:21 pm
Updated 06/07/2021, 05:05 pm

Originally published by AxiTrader

The latest CFTC report showed only minor changes in speculative FX positioning - despite relatively high volatility in the markets.

Euro net positioning stood at 30k short, an increase of 1k compared to the previous week. On-going concerns about Italy and a dovish ECB kept the currency under pressure in the past week.

Euro

Meanwhile, speculators decreased their bearish bets on the British Pound slightly, bringing the net positioning to 47k short (vs. 50k short previously). Nevertheless, the pressure on the pound is growing as the Brexit talks continue to drag on.

British pound

Yen net positioning stood at 93k short vs 101k short in the previous week. Demand for the Japanese yen picked up as traders fled to safe havens during the sell-off in equities.

Japanese yen

Positioning changes in commodity FX:

Australian dollar short 70k vs short 71k previously

Canadian dollar short 7k vs short 11k previously

New Zealand dollar short 33k vs short 35k previously

Australian dollar

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