Forex futures net speculative positions as of the close of business on Tuesday August 15, 2017

  • EUR long 79K vs 94K long last week. Longs trimmed 15K
  • GBP short 32K vs 25K short last week. Shorts increased 7K
  • JPY short 77K vs 96K short last week. Shorts trimmed by 19K
  • CHF short 1K vs 1K short last week. No change
  • CAD long 51K vs 63K long. CAD longs trimmed by 12K
  • AUD long 60k vs 58k last week. Longs increased by 2K
  • NZD long 25K vs 33K long last week. Longs trimmed by 8K
  • Last week's data

That's the second big week in a row of heavy short covering in the yen. That was the bad news for the dollar. The good news is that specs are less bearish on the dollar against EUR and CAD. Cable remains a dog.

The overall net US dollar short is $8.84B, which is down after last week the net hit the most extreme since Jan 2013.