Three weeks of dollar long-liquidation was reversed in the week to September 18 when speculators bought $4 billion against nine IMM currency futures. The buying which occurred just days before the dollar dropped to a 10-week low and took the gross dollar long to an almost 20-month high at $24.2 billion. All but CHF and MXN were sold with the EUR returning to neutral while the NZD net-short reached a record and multi-month highs were seen in GBP, AUD, and RUB. In bonds, leveraged funds maintained a record short duration across the US yield curve. The record short in 10-year notes extended further, as the 10-year yield ... (full story)