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These are the main highlights of the CFTC Positioning Report for the week ended on May 26th:

  • Investors increased their JPY net longs to the highest level since early November 2016, always on the back of solid demand for the safe haven universe amidst increasing US-China +Hong Kong effervescence.
  • EUR net longs retreated to the lowest level since late March after the European Commission (EC) proposed an aid package worth €750 billion to help economies in the recovery following the coronavirus fallout.
  • Net shorts in the British pound climbed to levels last seen in December 2019, as Brexit concerns, the impact of the coronavirus on the economy and potential BoE easing undermined further the investors’ sentiment towards the currency.
  • Net longs in the Russian ruble advanced to multi-month highs pari passu with the sharp recovery in prices of the barrel of Brent crude. Prospects of further easing in lockdown coditions and a gradual re-opening of the economy also collaborated with the upbeat mood in RUB.