22 January 2018 at 8:56 GMT
Broad-based dollar selling, though on a smaller scale than the previous two weeks, helped increase the non-commercial dollar short to $11.5 billion in the week to January 16. A small reduction in the record euro long and JPY short covering were the two main drivers with additional buying of AUD and MXN also seen.
- Broad-based dollar selling helped increase the non-commercial dollar short
- Main drivers were a small reduction in the record euro long and JPY short covering
- Additional buying of AUD and MXN was also seen
By Ole Hansen
The slight reduction in the record EUR long last week was not driven by profit taking. Both long and not least short positions rose thereby leaving the net-long down by 4% on the week.
The net-long in the Russian Ruble which has been added to the table, reached the highest since November 2016.
– Edited by Clare MacCarthy
Ole Hansen is head of commodity strategy at Saxo Bank