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Jun 07 - 04:55 PM

RPT - BUZZ-IMM: USD Sold Vs EUR, JPY And GBP On Last Week's Dovish Fed View

By Paul Spirgel  —  Jun 07 - 04:02 PM

Repeat with no changes

  • USD net spec G10 long -$4.11bn in the Apr 29-May 4 IMM period; $IDX -0.51%

  • Fed cut view in flux, today's abv f/c NFP, wages nod to steady Fed rate tack

  • USD broadly firm post-payrolls; US CPI, Fed stmt/presser Wednesday in focus

  • EUR$ +0.19% in period, specs add to growing long now +67,870

  • $JPY -1.4%; specs +23,938 contracts on dovish Fed lean, now -132,101

  • GBP$ +0.06%, specs +17,808 contracts, now +43,210 on less-dovish BoE outlook

  • $CAD +0.21%, specs -5,054 contracts, now -91,639 on diverging rate spreads

  • BoC and ECB cut rates in current IMM period, hot US payrolls bodes for higher USD

Source:
Refinitiv IFR Research/Market Commentary

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