Confidence in Yen Longs Regained and Sterling Shorts Added – Deutsche Bank
Confidence in Yen Longs Regained and Sterling Shorts Added – Deutsche Bank
Nicholas Weng, Strategist at Deutsche Bank, suggests that as per CORAX
Positioning Data from 05-Apr-2016, investors have regained confidence in
yen longs and added to sterling shorts.
Key Quotes
“The
overall positioning changes this week reflect a classic risk-off
pattern. JPY and CHF were aggressively bought while GBP, USD and the
dollar-bloc were net sold.
Funds have been cautious in extending
yen longs as USD/JPY neared 110, by contrast longs were aggressively
extended this week as spot approached this level suggesting receding
fears of effective BoJ intervention. Elsewhere investors continued to
trim EUR shorts and USD longs, but extended GBP shorts.”
(Market News Provided by FXstreet)
