USD bullish sentiment has softened, with today’s data marking the fourth consecutive week of a narrowed USD long position. Most of the change has come from closing EUR, JPY, CHF, GBP and AUD shorts. The shift is noteworthy and is an early warning of a potential shift in bullish USD sentiment. All the currencies are still held net short against the USD; however it is noteworthy that NZD, CHF, CAD, GBP and MXN all have net short positions smaller than $2bn.
Read the full report: FX Research