IMM Positioning - Speculative Investors Turned Net Long In GBP
Speculative investors turned net long in GBP
- Overall speculative positions were increased in the week from 15 April to 22 April, as net short USD positions rose by USD 3.1bn to USD 16.9bn, driven mainly by increased positions in GBP, AUD and CAD.
- Speculative investors once again turned net long in GBP, which has regained some of its losses against EUR and USD in recent weeks. Net long GBP positions stand at USD 0.6bn.
- Net long EUR positions were reduced slightly by USD 0.2bn to USD 3.8bn.
- Also net positions in the traditional funding currencies were scaled back, as net long JPY positions were reduced by USD 1.6bn to USD 4.3bn, and net long CHF positions by USD 0.3bn to USD 0.4bn.
- Meanwhile, net long positions in the $-block currencies were built further. Net long positions in AUD and CAD both saw large increases, while net long NZD positions were close to unchanged. This mirrors the latest increase in AUD/NZD.
- On the bond market, speculative investors went net long in 2-year notes, while net short 10-year note positions were increased slightly.
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