**As seen in IMM Positioning report 07/28/23, subscribe at cablefxm.co.uk/reports
Our own measure of the broad dollar position using CFTC data has dipped to the lowest since March, % of open interest held by leveraged funds is now flat from the prior +1.7%
Dollar positioning has held net long for almost four consecutive months, the % of OI is now extending below its 5-year average of 6.2%, the upper/lower 1-standard deviation bands stand at 12.2%/0.1%
CFTC data showed CAD, CHF, JPY, trimming net shorts while the NZD turned net long. Sterling pound positioning saw a build in net longs as % of OI increased by 3.5pp to 14.6%
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