Weekly forex positioning data from the CFTC as of the close on Tuesday:

  • EUR 112K short versus 100K short last week.
  • GBP 81K short versus 74K short last week.
  • JPY 34K long versus 64K long last week.
  • CHF 1K long versus 4.7K long last week.
  • CAD 23K long versus 22K long last week.
  • AUD 26k long versus 33k long last week.
  • NZD 0.2k long versus 2.2K short last week

With the hindsight of the Fed and GDP, it's clear that the market got ahead of itself in euro and GBP shorts. Those are some big positions.

On the other hand, the market has been betting on the yen for awhile and that continued to be a winner after a few weeks of pain.