Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators added to their bearish bets on the British pound in the week ending March 25, amid mounting uncertainty over the U.K.’s future in the European Union.
According to the report, 35.6% of investors were long GBP/USD as of last week, falling sharply from 46.6% in the previous week.
Meanwhile, 32.1% of investors held long positions in EUR/USD, improving from 23.2% a week earlier, 37.3% of market participants held long positions in USD/JPY, compared to 45.4% in the preceding week, while 48.0% of investors were long USD/CHF, inching up from 46.8%.
Amongst the commodity-linked currencies, 48.8% were long USD/CAD, falling from 50.3% a week earlier, 45.0% held long positions in AUD/USD, compared to 37.3% in the preceding week, while 42.2% were long NZD/USD, rising from 37.7% a week earlier.
The report also showed that 60.9% of market participants held long positions in gold futures as of last week, up from 57.4% in the preceding week.
Elsewhere, 27.0% of investors were long the S&P 500, improving from just 20.1% a week earlier.
A reading between 50%-70% is bullish for the instrument, a reading between 30% and 50% is bearish, a reading above 70% indicates overbought conditions and a reading below 30% indicates oversold conditions.
The Investing.com series of indexes is developed in-house. Each index measures overall exposure to major currency pairs, commodities and indexes, using data from futures exchanges and OTC providers on all long and short open positions.