🧮 Leveraged Funds Euro % Of Open Interest At Highest Since April: Cable FX Macro

**As seen in IMM Positioning report 11/28/2022, subcribe at cablefxm.co.uk/reports

• Weekly changes were marginal, except for Australian dollar contracts, % of open interest in AUD is now at -16.9%, this is below its one standard deviation band

• Leveraged funds extended the net short positioning in Swiss franc, the % of OI is now at -23.1%, below the one standard deviation band, meaning positioning has reached stretchered levels

• Positioning in the rest of the reporting currencies is in line with their 5-year historic average (ex-BRL). The only G10 currency to stand net long vs the dollar is the British pound, however, leveraged funds' positioning in euro net short has been trimmed to the lowest since April

• The percentage of open interest in euro contracts is now at -1.1%, up from the prior week reading of -2.2%. The metric is closer to neutral, this has not been seen for most of the year. However, such levels will be well above the 5-year average of -8.0%