FX Positioning: Waiting for the US dollar long-squeeze

FX Positioning: Waiting for the US dollar long-squeeze

From think.ing.com

CFTC positioning data for the week ending 11 January shows very few changes to the aggregate dollar positioning versus reported G10 currencies (i.e. G9 excluding Sweden's krona and Norway's krone), which remained well into net-long territory (+13% of open interest) and only slightly below the 14% (of o.i.) recent high recorded in September. chart While these figures reflect the market's speculative positioning at the start of the new year, they are still too outdated to show the unwinding of USD long positions that occurred last week and generated a fall in the dollar across the board. We think that the dollar now ... (full story)

The effect will take place for some time

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