Published: 2/19/2018 5:17:00 AM
In the week ended 13 February, leveraged funds’ net long position in EUR fell from 38% to 30% and asset managers remained long EUR, with the current level (37%) broadly in line with the six-month average, notes the research team at Nomura.
“On the other hand, leveraged funds decreased GBP net longs from to 56 from 59%, a high since early-June 2014. Asset managers’ net short position in GBP increased from 35% to 40%.”
“JPY: Leveraged funds’ net short JPY positioning fell from 38% to 33%. The one-year high is 64%, recorded in July 2017. In contrast, asset managers reduced long JPY positions from 52% to 42%.”
“AUD & NZD: Leveraged funds’ long positioning in AUD rose to 32% from 41%; the lastyear high was 76% in mid-October 2017. Leveraged funds decreased NZD net shorts from 13% to 8%, while maintaining a net NZD short since mid-October 2017.”
“USD: Our BIS volume-weighted proxy shows that leveraged funds have maintained a net short USD (-17%) position for six weeks.”
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