This report analyses the performance of non-commercial positioning in FX futures on the Chicago Mercantile Exchange, valuing market sentiment in search of any extreme levels that could represent a risk of significant changes in the spot market.
The USD continues to pair back longs and at a faster pace. There was a reduction in net longs in the week ended 11 February. USD positioning fell USD4.7bn to USD26.5bn, coming off of the recent multi-year highs of around USD35.2bn over the last couple of weeks. The pace of reversion in longs increased by about USD1.6bn from USD3.1bn the week ended 4 February.
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