COT: Funds dollar buying yet to hit pre-Brexit levels
Dollar buying is yet to return to pre-Brexit levels. Photo: iStock
By Ole Hansen
Hedge funds turned small net-buyers of dollars during the week ending July 5. But with the gross long at just $5.7 billion, it remains below the level seen before the Brexit vote.
- The AUD turned net-long again for the first time since May 17.
- Some bottom fishing was seen in GBP with both long positions rising. The short, however, rose even stronger leaving the net-long down on the week.
- The continued rise of the JPY has seen the net-long rise in four out of the last five weeks.
— Edited by Martin O'Rourke
Ole Hansen is head of commodities strategy at Saxo Bank