USD short remains moderate - BNPP

James Hellawell, Research Analyst at BNP Paribas, lists down the FX positioning analysis data for the week ending 11th April.

Key Quotes

• “AUD and CAD positioning is light at scores of +1 and -2 respectively while NZD short positions remain large at -27. There is scope for long AUDNZD positions to unwind.

• EUR long positioning continues to rise but remains modest at +23 leaving room for long positions to be built up further.

• USD short positioning remains moderate at -17 with room to be built up further. Bearish GBP positions remain extreme at -45.

• JPY long positioning remains close to its highest level since 2008. This leaves the JPY vulnerable to a reversal.”