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Weekly COT Report: Sterling Traders The Least Bearish In 3-Months
EUR: Net-short exposure dropped to its most bearish level in 4-months. Gross short exposure remains near a 4-month high, although last week’s increase of bearishness was a function of both longs and shorts closing out. Yet, whilst positioning doesn’t scream a sentiment extreme, EUR/USD rallied nearly 1% between Tuesday’s close (when the report was compiled) and Friday’s high on progress with US-China trade talks. So, is the low in? Perhaps, but I’m not currently convinced from this alone. There’s still a long way to go on trade talks and traders remains net-short on the Euro. So until we see a material ... (full story)