Research Analysts at Nomura elaborate on the FX positioning index heading into a new week, analyzing data from the CFTC COT report.
JPY: According to IMM data for the week ended 31 Jan, leveraged funds’ net short JPY positions fell (to 37% vs. 53% last week). This is the lowest level of net short positioning in JPY since December 2016. On the flip side, asset managers’ net short positioning in JPY rose marginally to 40%.
EUR: Leveraged funds’ net short positioning in EUR fell considerably (to 46% vs. 54% last week). This is the lowest level of net short positioning since July 2016. Asset managers’ net long positioning in EUR fell to 24% vs. 26% last week.
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