The net short EUR position collapsed from $8.4bn last week to $1.3bn this week, a level not seen since February and one that suggests a bullish turn in EUR sentiment. The long:short ratio is now
almost 1:1, suggesting a balanced market that is not vulnerable to massive swings. The aggregate long USD remains high at $25.6bn and the nearly all of the currencies are held net short with the exception of long positions in NZD and MXN.
Read the full report: FX Research
Scotiabank