Not feeling the heat around the corner – DB

FXStreet (Barcelona) - Nicholas Weng, Strategist at Deutsche Bank, highlights the gamma positioning of the FX pairs.

Key Quotes

“Perceived gamma positioning is net shorter in G10 FX. Highlights include the addition of modest shorts immediately above spot in EUR/USD and USD/JPY, and extension of downside shorts in GBP/USD and AUD/USD. Elsewhere in the Scandies, EUR/SEK positioning has moderated, while EUR/NOK is now slightly sticky from +2% below.”