🧮 Leveraged Funds' Broad Dollar Position Rises to Highest Since June: Cable FX Macro

**As seen in IMM Report 09/22/23, subscribe at cablefxm.co.uk/reports

• The broad dollar position held by leveraged funds rose on the week to the highest since June, % of open interest ticked at 3.2% vs prior 0.3%

• Leveraged funds' net USD position is still below its five-year average. The largest declines were seen in commodity currencies, this is interesting given the recent rise in energy prices

• As of last week, only the Swiss franc and the pound were held net long vs the dollar. The former is above its 5-year average while the latter reads at stretched levels