04 July 2016 at 7:10 GMT
By Ole Hansen
Hedge funds cut bullish dollar futures bets during the week ending June 28. In the aftermath of the Brexit vote they turned net sellers of dollars against all but one of the eight IMM currency futures tracked in this.
- CHF and JPY both saw continued safe-haven demand with the CHF net-long jumping by 70% to a two-year high.
- Profit taking on sold GBP positions helped reduce the net-short position by 18%
- EUR saw big jumps in both gross long and short positions which left the net almost unchanged.
EUR traders undecided with long and short positions both rising.
– Edited by Clare MacCarthy