**As seen in IMM Positioning Report 12/20/21, subscribe at cablefxm.co.uk/reports
Last week's futures non-commercial positioning data provided by the CFTC showed the NZD % of open interest moving the most at -33%. Positioning in NZD has turned short for the first time since late August, this narrows the gap between AUD which has been the most shorted currency in the group for some time, AUD % of OI stands at -40% (stretched short)
Non-broad dollar positioning, measured by DXY futures, extended to 60% of open interest, this is however still lower than the late November peak of 69% (highest since 2019). Dollar % of OI remains close to the upper 1-standard deviation band (5-year history).
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