EUR shorts shrinking, USD longs stable – Rabobank

FXStreet (Edinburgh) - Senior Currency Strategist at Rabobank Jane Foley reviewed the recent report of the IMM Net Speculator’s Positioning.

Key Quotes

“The pressure on the Chinese stock market and the poor performance of EM currencies at the start of last week is reflective of a low level of risk appetite. Since this environment is not supportive of the carry trade, speculators lowered their net EUR shorts”.

“The level of net USD longs remained stable last week ahead of the FOMC meeting”.