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- GBP net short at multi-month lows - CFTC Positioning Report
GBP net short at multi-month lows - CFTC Positioning Report
The CFTC Positioning Report for the week ended on October 29 reveales the following:
- Investors continued to trim gross shorts in the Sterling and pushed net shorts to the lowest level since late May on the back of persistent weakness in the Greenback, rising hopes on a final deal after another extension of the Brexit deadline and steady support for the Tory Party ahead of the December 12 elections.
- On the other hand, USD net longs dropped to the lowest level since August 20 as investors kept favouring the risk-associated complex ahead of the FOMC meeting.
- By the same token, JPY net shorts climbed to the highest level since June 11 against the backdrop of the broad-based sell-off in safe havens. The positive developments from the US-China trade front as of late have been fuelling the investors’ preference for riskier assets.
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