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Speculators Slash Yen and Aussie Longs
There were only two significant speculative position adjustments in the latest CFTC reporting week ending May 24. Speculators liquidated 31.4k gross long yen contracts, leaving the bulls with 54.8k contracts. It is the largest weekly adjustment since last September. Speculators have not been particularly keen to pick a yen top. The gross short position rose by 5.5k contracts to 32.7k, and only 2k contracts on the month, while the yen has weakened 3.5% in the spot market Speculators also slashed their gross long Australian dollar position by 20.1k contracts to bring the position to 51.7k contracts. It is the fourth ... (full story)