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26 Aug 2013
Flash: Specs move away from USD for fifth week in a row - TDS
FXstreet.com (Barcelona) - According to the latest CFTC Commitments of Traders Report published on Friday Aug 23rd, the speculative currency accounts continue to cut exposure to the USD for the fifth consecutive week as of Tuesday, the 20th.
Key Quotes by Shaun Osborne, Chief FX Strategist at TDS
"Another large increase in EUR exposure was again the biggest contributor to that shift, which left the implied USD net long position at USD12.0bn, down from USD16.2bn in the week prior."
"Investors favoured greater EUR exposure as EUR/USD poked above 1.34 on Tuesday, boosting the net long position to 36.7k contracts from 16.1k in the week prior. That amounts to an increase of roughly USD3.5bn in EUR exposure for the week."
"To a much lesser extent, a reduction of the net short JPY position also contributed to the smaller USD exposure. JPY shorts were pared to 71.7k contracts (from 74.5k)—a level that is still at risk of a short squeeze in our view."
"AUD net short was stable at 63.2k (from 62.7k), and the CAD net short expanded very slightly to 9.5k contracts (from 9.1k)."
Key Quotes by Shaun Osborne, Chief FX Strategist at TDS
"Another large increase in EUR exposure was again the biggest contributor to that shift, which left the implied USD net long position at USD12.0bn, down from USD16.2bn in the week prior."
"Investors favoured greater EUR exposure as EUR/USD poked above 1.34 on Tuesday, boosting the net long position to 36.7k contracts from 16.1k in the week prior. That amounts to an increase of roughly USD3.5bn in EUR exposure for the week."
"To a much lesser extent, a reduction of the net short JPY position also contributed to the smaller USD exposure. JPY shorts were pared to 71.7k contracts (from 74.5k)—a level that is still at risk of a short squeeze in our view."
"AUD net short was stable at 63.2k (from 62.7k), and the CAD net short expanded very slightly to 9.5k contracts (from 9.1k)."