🧮 Leveraged Funds Built Aussie Bearish Bets Into RBA: Cable FX Macro

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

• CFTC data captured leveraged funds turning net short in AUD futures a couple of weeks ago, fast money built the position last week. AUD % of open interest dropped by 0.8pp to -5.9%, the lowest since mid-June

• Leveraged funds' positioning in Australian dollar futures is now extending below its 5-year average of -3.5% of open interest

• The kiwi position recorded the largest increase last week, the 12.8pp move took % of OI to 10.5%. Hedge funds are now the most bullish on sterling and kiwi futures