Speculative investors in the eight IMM currency futures continue to scale back their aggregate short dollar position. As of November 6 the short position stood at USD 4.7 billion, a one-third reduction on the previous week as the greenback was bought against six out of eight currencies, especially EUR and JPY.
EUR was sold for a third week as weak European growth and uncertainty about Greece has seen sellers regain some confidence.
JPY was sold again bringing the short positioning back to a 28-week high
The switch out of CAD into AUD continues as Chinese data seems to have stabilised
Click here to read the full report: FX CFTC_111212
SAXO BANK