In the week ending Tuesday, 26 June, EUR net-short positioning extended further from 45% to 48%, the one-year high of net shorts, notes the research team at Nomura.
Key Quotes
“In contrast, asset managers have remained long EUR since February 2016, with its current position at 39%.”
“JPY&CHF: Leveraged funds’ JPY positioning has remained net short for two weeks. The short position stood at 17%, with its one-year high net-short position at 64% in late July. On the other hand, CHF positioning has been net short since late October with its current position being at 42% of net shorts.”
“AUD&CAD: Leveraged fund AUD and CAD positioning both increased and are now net short 28% and 27%, respectively.”
“USD: According to our BIS volume-weighted measure, leveraged funds’ USD positions reached the one-year high of net longs at 28%.”
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