🧮 Leveraged Funds Take Kiwi Longs to Stretched Levels: Cable FX Macro
- Rosbel Durán
- Aug 7, 2023
- 1 min read
**As seen in IMM Positioning report 08/04/23, subscribe at cablefxm.co.uk/reports
Hedge funds built on NZD long positioning, according to data records by CFTC. The kiwi futures contract % of open interest jumped by 11.3pp to 21.8%, this is now above its one standard deviation band using calculations of the last 5-years
As of last week, sterling, real and kiwi positions held by hedge funds stand at stretched long levels. This means that upside in further building may be limited. Historically, stretched levels in leveraged funds' positions are followed by corrections
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