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7 Jan 2014
Flash: Specs adjust shorts in Yen, longs in Sterling - Nomura
FXstreet.com (Bali) - For the week ended December 31, JPY shorts were trimmed significantly by $1.2bn and the GBP longs were added to by $0.9bn, notes the FX Team at Nomura.
Key Quotes
"Specs sold -$1.3bn of USD on the week, bringing positioning down to $16.0bn from $17.3bn. Our real-time indicator shows that this again increased to $18.7bn as of Monday."
"There was $1.2bn of JPY buying by speculative accounts on the week. This brings total JPY positioning to -$16.1bn. This brings JPY off record extreme short positioning, though positioning still remains very short. Our real-time indicator estimates JPY shorts moderated only slightly to -$15.8bn as of Monday."
"GBP longs were added to by $0.9bn. This is the most net long positioning in GBP has been since the week ended 15 January 2013, when positioning was $2.8bn."
"CHF remains near its year high net long at $1.5bn, though specs sold -$0.1bn of CHF on the week. Specs also sold AUD (-$0.3bn) on the week. While not large, it brings AUD net positioning to -$5.1bn, the lowest since early September."
Key Quotes
"Specs sold -$1.3bn of USD on the week, bringing positioning down to $16.0bn from $17.3bn. Our real-time indicator shows that this again increased to $18.7bn as of Monday."
"There was $1.2bn of JPY buying by speculative accounts on the week. This brings total JPY positioning to -$16.1bn. This brings JPY off record extreme short positioning, though positioning still remains very short. Our real-time indicator estimates JPY shorts moderated only slightly to -$15.8bn as of Monday."
"GBP longs were added to by $0.9bn. This is the most net long positioning in GBP has been since the week ended 15 January 2013, when positioning was $2.8bn."
"CHF remains near its year high net long at $1.5bn, though specs sold -$0.1bn of CHF on the week. Specs also sold AUD (-$0.3bn) on the week. While not large, it brings AUD net positioning to -$5.1bn, the lowest since early September."