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CFTC: NZD Position Boosted to Multiyear Highs, Asset Managers Switch to Net Long

CFTC
  • The net NZD position shot higher in the week-ending Jun 18th, with the outright position now the highest since 2018 at over 20k contracts. The W/W net improvement equates to 18.1% of open interest and is comfortably the biggest weekly change in positioning for several months. Both the asset manager and leveraged funds categories saw NZD positioning improve - and notably the asset manager class switched to a net long.
  • This tips the NZD Z-score to 2.76, by a distance the most positive among all currencies surveyed. The shift in positioning comes as a result of new longs, rather than aggressive short-covering, with outright shorts still within the YTD range.
  • Markets built the net short in JPY and net long in GBP, while the AUD short and MXN were trimmed. EUR positioning abated from a small net long to neutral.
  • Full update here:

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