CFTC data ending 23 June points to a broad stabilisation in G10 FX positioning after the large swings recorded in the previous week (which we discussed in “FX Positioning: Great escape from the dollar”). As shown in Fig. 1, the biggest moves in the week 17-23 June were again seen by the New Zealand and Australian dollars, which are now well into neutral territory. In the rest of G10, the moves were quite mixed, with the Japanese yen advancing again and the Swiss franc losing ground, while euro and Canadian dollar positioning remained flat. {image} More room to build USD shorts? The dollar aggregate net positioning ... (full story)