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Hedge Fund Positioning To Drive Near-Term GBP Direction Vs EUR, USD
The Pound to Dollar (GBP/USD) exchange rate posted significant net gains to 12-week highs just above 1.2600 on Friday and held the gains on Monday to trade around 1.2615 as the dollar maintained a soft overall tone. The latest COT data will be released by the CFTC late in the New York session and the evidence on non-commercial currency bets will be important for market sentiment. The Pound positioning will be particularly significant after last week’s data recorded the largest short Sterling bet since the beginning of 2023. The data will demonstrate market positioning for hedge funds and other market players into ... (full story)