Currency traders, such as hedge funds and other large money managers, went net-short the EUR during the week ending January 8 according to the latest data from the CFTC. The selling occurred just ahead of the major push higher in EURUSD and shows what a tricky start to the year these first couple of weeks have been. Likewise the JPY net-short was scaled back for a fourth week despite the continued weakness seen in USDJPY.
The sum of all the changes witnessed among the eight IMM currency futures tracked in this report led to a small reduction in aggregate short dollar positioning as GBP and especially EUR selling more than off-set JPY buying. The positioning among the commodity currencies was almost unchanged despite some decent moves on the currencies.
Click here to read the full report: FX CFTC_011413
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