**As seen in IMM Positioning report 04/21/23, subscribe at cablefxm.co.uk/reports
CFTC data showed leveraged funds shifting to net long in NZD and GBP. Kiwi futures recorded the largest % of open interest upside in the latest week, last at 4.6%. While the pound now stands at 1.1%, the prior net short did not gain traction as it remained within less than a 1% of open interest
Hedge funds built AUD net short, % of open interest is now at -2.6% after a 1.2pp decline, this remains off its 5-year average of -4.0%. We also saw a marginal trim of the yen net short as % of OI was pared back to -26.3%
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