Article / 10 October 2016 at 7:30 GMT

COT: Broad-based dollar demand against IMM currencies — #SaxoStrats

Head of Commodity Strategy / Saxo Bank
  • USD gross long position at nine-week high
  • Sterling net-short hits record on 'hard Brexit' fears
  • Stable net-short position seen in EURUSD

The week ending October 4 saw USD buying continue. Photo: iStock

By Ole Hansen

In the week ending October 4 hedge funds sold six out of the eight IMM currency futures tracked by the weekly Commitment of Traders report. This third consecutive week of dollar-buying took the gross long to a nine-week high.

As EURUSD continues to struggle to break away from 1.1200, a relatively stable net-short position has been witnessed during the past seven weeks.

Speculative IMM currency positioning

Speculative IMM currency positioning
Sterling once again attracted attention with the net-short hitting a new record of 97,572 lots. 
Speculative positioning in IMM GBP

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Commitments of Traders: IMM currency futures


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