USD: Attractiveness lingers – ING

Analysts at ING suggest that EUR/USD net positioning remains flat and in line with recent history, suggesting a fairly robust appetite for the dollar, despite risk sentiment potentially denting the greenback’s safe-haven appeal.

Key Quotes

“The increase in JPY’s net shorts (by 21% of open interest since the start of October) has slowed in the reference week, stabilising at -12% of open interest.”

“The Canadian dollar remains the biggest G10 long according to the data, although the reference period does not cover the latest Bank of Canada meeting when the dovish shift heavily hit the loonie’s momentum. We expect some downward correction in CAD’s net positioning when the data is updated next Monday.”