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The most notable positioning move within......>

CABLE
CABLE: The most notable positioning move within the majors, as portrayed by the
latest CFTC COT report, came in GBP. GBP/USD net short positions rose from 3,318
contracts, to 26,152 contracts in the week to 21 May. Net positioning as a % of
open interest also moved out to -13.75% from -2.11% (the - denotes a short
position).
- While this remains well short of the extremes in terms of recent short
positioning, it marks a clear move away from neutral.
- It will be interesting to track the next round of weekly data, as it will
capture the period in which UK PM May formally announced her resignation.
- Chart: https://emedia.marketnews.com/GBPCFTC270519.png
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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