Hedge Funds only made some small adjustments to their IMM currency futures positions during the week ending April 30. Despite plenty of currency moves all going against the dollar the aggregate dollar position, derived from the eight currency futures tracked in this report, was only reduced by USD 0.7 billion to 16.2 billion. The main movers were the CHF which was sold straight back into a net-short position after just one week while the JPY was bought for a second week as sellers grew frustrated about the currency’s failure to weaken further, especially through the important 100 level on USDJPY.
Click here to read the full report: FX CFTC_050613
SAXO BANK