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Asset Managers Slash Mexican Peso Longs by the Most in 16 Months
Institutional asset managers slashed their long positions on the Mexican peso as investors unwound carry trade bets on what was until a week ago the best performing currency in emerging markets this year. More may be to come. The asset managers, composed mostly of pension funds with mid- to long-term views, reduced their long positions by 20,012 contracts to 152,316 in the week through April 16, the biggest weekly move since December 2022, according to data from the Commodity Futures Trading Commission/CME. The reduction accounts for almost 12% of the total bullish positions held by those investors, which were the ... (full story)