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🧮IMM Positioning: GBP Rebounds, USD Extends Long Near 2021 Highs

Writer's picture: Rosbel DuránRosbel Durán

**As seen in IMM Positioning report 01/07/2022, subscribe at cablefxm.co.uk/reports


  • The largest change in percentage of open interest was seen in GBP and AUD this week. The former bounced to -20% of OI, now inside its 1-standard deviation band, in other words GBP is off stretched short positioning. However, British pound positioning was quite volatile for most of 2021, this eased during November when the % of OI turned negative and the net short position extended into December. AUD remains stretched short with % of OI falling by 5pp to -50%, this is outside its 1-standard deviation band

  • The dollar, measured as DXY futures, records its fifth-consecutive week of increases in bullish positioning with % of OI rising 3.7pp to 67%, which is to our measures stretched long. As of this week, AUD and USD % of OIs remain outside their respective bands



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