Forex futures net speculative positions as of the close of business on Tuesday March 21, 2017:

  • EUR short 20K vs 41K short last week. Shorts trimmed by 18K
  • GBP short 108K vs 107K short last week. Shorts increased by 26K
  • JPY short 67K vs 71K short last week. Shorts increased by 17K
  • CHF short 12K vs 9K short last week. Shorts trimmed by 1K
  • CAD long 24K vs 21K long. Longs trimmed by 8K
  • AUD long 45Kvs 43K long. Longs trimmed by 8K
  • NZD short 12K vs 6K short last week. Shorts increased by 2K

GBP shorts had jumped in the previous two weeks. They inched higher here but it's a marginal rise. Still, it's not showing any rush to take profits ahead of Article 50.

EUR shorts are a different story as it's turned into a bit of a race to the exits. Shorts have been cut quickly in the past two weeks and we're the closest we've been to neutral since 2014.

Finally, New Zealand dollar shorts are suddenly in vogue.