🧮 Broad Dollar Position Remains Within Range: Cable FX Macro

**As seen in IMM Positioning report 07/14/23, subscribe at cablefxm.co.uk/reports

• Last week saw the spot FX USD post its worst 5-day performance since March 2020, the Cable FX Macro Dollar Index dropped by 4.3% on the week.

• However, the IMM positioning data seems detached from spot markets. It is worth noting that the CPI and PPI data released after the survey was gathered

• Broad dollar position stands at 2.4% of open interest, up from the prior 1.1% and lower vs its 5-year average of 6.3%