From the weekly Commitments of Traders report (collected at Tuesday’s close):
- JPY net short 66K vs 74K prior
- EUR net long 7K vs net short 8K last week
- GBP net long 28K vs 26K prior
- AUD net long 89K vs 80K prior
- CHF net long 13K vs 10K prior
- CAD net long 69K vs 64K prior
- NZD net long 22K vs 19K prior
Highest net long EUR since July 2011. Quite a surprise to see yen shorts pull back. I’m not generally the type to do technical analysis on a COT chart but it looks like a rebound to the breakout point, which could be followed by a decline to the 2007 lows — and that would mean deeper JPY losses.
