CFTC Data: Divergence between USD and G7 currencies – ANZ
By FXStreet FXStreet (Delhi) – Khoon Goh, Research Analyst at ANZ Research notes that, according to the latest CFTC positioning data for the week ending 1st Sept 2015, there is a divergence between USD positioning against individual G7 currencies.
Key Quotes
“The latest CFTC positioning data once again showed a divergence between USD positioning against individual G7 currencies, and direct positioning on the DXY Index.”
“Based on the aggregation of the individual currency positioning, leveraged funds reduced their overall net long USD exposure for the third consecutive week by USD2.6bn to USD18.8bn. In contrast, net long positioning on the DXY Index rose for the fourth consecutive week.”
“The two largest positioning changes occurred in JPY and GBP. Short JPY positions have been reduced by USD3.3bn to USD5.1bn. The Japanese yen has typically gained during bouts of financial market volatility, and this time is no different. The reduction in JPY short positions have helped the yen gain against the USD.”
“The flipside has been net selling of GBP by leveraged funds totalling USD1.7bn in the week. Overall positioning in GBP remains positive and is still the only currency where leveraged funds are net long. But this has been reduced to USD3.3bn.”
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Source:: FX Street
