Hedge funds were small net buyers of dollars during the week ending April 23 as selling of AUD and EUR more than offset buying of JPY and CHF. It was a week of position retracements following the previous week where the CAD short reached a record short and NZD longs reached record highs. The gross dollar position derived from the eight IMM currency futures tracked in this report rose by USD 0.5 billion to 16.7 billion and has remained very stable since early March. JPY shorts were scaled back despite continued currency weakness with traders scaling back positions ahead of tough resistance at the USD/JPY 100 level. AUD longs were reduced amid commodity weakness and a more dovish outlook for interest rates.
Click here to read the full report: FX CFTC_042913
SAXO BANK