🧮IMM Positioning: DXY Long Squeezed
- Rosbel Durán
- Feb 5, 2022
- 1 min read
*As seen in IMM Positioning report 02/04/2022, subscribe at cablefxm.co.uk/reports
This week, non-commercial positioning reported a decline in % of open interest in DXY futures positioning of 9.2% to 61.2%, this left the dollar inside it standard deviation band, meaning is no longer overstretched long. Heading into the BoE, investors extended GBP shorts with the latest figure reporting % of OI at -12.8%, down from the previous -4.3%, however, this is still within recent ranges. CAD posted the biggest move to the upside as investors increased the net long positioning, this pushed % of OI by 4.2pp to 12.6%, which is close to the upper standard deviation band from its 5-year average.
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