CFTC, in the week before February 27, speculators quite actively sold the dollar, resulting in a net short position on it increased by $ 2.9 billion to $ 13.7 billion. However, a noticeable change in positioning was observed only in G3 currencies: speculators bought the euro, pound and yen. The euro remains the most bought currency, the yen is the most sold, and positioning in all other major currencies is close to neutral.
The net position in the Canadian dollar remained almost unchanged, but for the first time in a few weeks there was an increase in open interest: speculators opened new long and short positions.
The most large-scale change in positioning occurred in euros, where net long increased by $ 1.7 bln against the backdrop of the opening of long positions.
For the first time since the end of January, the volume of the net long position for the pound has increased, but a larger picture shows the desire of speculators to reduce the risk, as all changes in the positioning of the British currency occur against a background of reduced open interest.
Reduction of the net short by the yen is gaining momentum amid the massive elimination of short positions by speculators. By historical standards, it remains high, so the position of the bears still look vulnerable
Source FF Plenov
