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NZD/USD Rate Approaches June High while Net-Short Interest Jumps
NZD/USD appears to be on track to test the June high (0.6585) as it extends the advance from the start of July, with the appreciation in the exchange rate fueling a jump in net-short positions. The New Zealand Dollar trades to a fresh monthly high (0.6549) against its US counterpart as the IG Client Sentiment report continues to show crowding behavior in the currency market, with the retail crowd net-short NZD/USD since May. The most recent update shows only 30.65% of traders are net-long NZD/USD, with the ratio of traders short to long at 2.26 to 1.The number of traders net-long is 10.71% higher than yesterday and ... (full story)