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Speculators Cover GBP Short Positions As Brexit Deadline Approaches

Published 25/03/2019, 11:51 am
EUR/USD
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GBP/USD
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USD/JPY
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USD/CHF
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AUD/USD
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USD/CAD
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JPY/CHF
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USD/NZD
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Euro:

* Large speculators continue to have a bearish view on the euro following another series of disappointing economic data of the Euro Zone

* Net positioning stood at 78k vs 80k short previously - a decrease of 2k

Euro

Pound:

* As the deadline for Brexit is approaching, an increasing number of large speculators prefer to remain on the side lines

* GBP volatility is expected to increase in the coming weeks, and uncertainty remains high

* Net positioning stands at 14k short vs. 37k short in the previous week - a decline of 22k

British pound

JPY/CHF:

* Positioning remains stable for both currencies

* Yen: 59k short vs. 59k short previously

* Swiss franc: 27k short vs. 23k short previously

* However, the recent sell-off in equities and dovish Fed has sparked fresh demand for JPY and CHF, which is not reflected in the CFTC data

Japanese yen

Commodity currencies:

* No significant changes, but speculators added to Canadian dollar short positions, while trimming Australian dollar short positions

* AUD short 52k vs 60k short previously

* CAD short 48k vs short 41k previously

* New Zealand dollar short 1k vs long 4k previously

Australian dollar

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