CFTC data on FX positioning show that, in the week ending 10 August, speculative investors increased their bullish exposure on the dollar. The USD aggregate net long positioning versus reported G10 currencies (i.e. G9 excluding NOK and SEK) rose to 3% of open interest. This is in line with the good performance of the greenback across the board in the week to 10 August, as markets turned increasingly cautious on the global growth outlook due to the rapid spread of the Delta variant across the world, and especially in low-vaccinated countries like most of Asia. Unsurprisingly, and considering the ongoing re-rating of ... (full story)