23 Apr 2014
GBP, EUR and AUD preferred to the USD – FXStreet
FXStreet (Edinburgh) - Gonçalo Moreira, CMT at FXStreet, commented speculative traders increased their bets in favour of riskier assets in the last week.
Key Quotes
“Non-commercials increased their bets in favor of the GBP, EUR, and AUD against the US dollarwhich continued to move out of favor among speculative traders, which warns of further potential upside in those currencies”.
“The net long EUR position rose to +27.7k, the second largest net long exposure after the GBP in the week through April 15th. Where the EUR beats the British currency is with its gross long position of 106.3k contracts”.
“The yen still reports the largest net short position among majors, but its negative bias is declining significantly on risk averse sentiment”.
Key Quotes
“Non-commercials increased their bets in favor of the GBP, EUR, and AUD against the US dollarwhich continued to move out of favor among speculative traders, which warns of further potential upside in those currencies”.
“The net long EUR position rose to +27.7k, the second largest net long exposure after the GBP in the week through April 15th. Where the EUR beats the British currency is with its gross long position of 106.3k contracts”.
“The yen still reports the largest net short position among majors, but its negative bias is declining significantly on risk averse sentiment”.