Traders appear on the cusp of flipping to net-long exposure on British pound futures. At just 247 contracts net-short, it is the least bearish traders have been since November. And with new longs and shorts being initiated over the past 4-weeks (with longs as an increasing pace) then it is no longer exclusively a short-covering rally. With that said, GBP fell to an 8-day low on Friday so they amy still be net-short at the time of writing. {chart} CAD futures: Traders flipped to net-long exposure on the Canadian dollar for the first time in 8-weeks last Tuesday. 5.5k long contracts were added and bears added -9.4k, ... (full story)