MNI's FX Positioning Indicator finds: -USD:...>

FOREX: MNI's FX Positioning Indicator finds:

-USD: Positioning pauses near recent high - With the USD index's recent

pullback, the building of speculative longs also waned slightly, an uptrend

that's been solidly in place since August last year.

-EUR: Too soon to say net positioning has bottomed - With ECB policy seemingly

on ice until next summer, speculative positioning has risen from recent lows,

but it is too soon to say sentiment has bottomed.

-GBP: From bad to worse - Sterling long contracts fell by close to 50% in the

most recent week, pressing the GBP positioning indicator back toward recent

lows.

-AUD: Despite a rebound in spot, shorts double down - While spot AUD/USD appears

to have posted a near-term bottom, the CFTC short position continues to build,

showing a distinct lack of belief in any recovery.

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