🧮 IMM Positioning: Step Back In GBP Net Short

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

• This week, the COT report showed GBP % of open interest rising the most, now at -23.2% vs previous -27.7%, this leaves sterling net non-commercial positioning at right around the lower one standard deviation band

• All currencies remain net short except for CAD, loonie % of OI jumped to 6.4% from 2.9% and now stands above its five-year average

• DXY futures pared net longs, with % of OI dropping to 68.5% from 76.9%, this is still above its five-year standard deviation band