• USD net G10 spec short added to in the Jun 18-24 IMM period; $IDX -0.87% in period

• Net spec short +10.96% rose by $1.9bn after Mideast ceasefire saw USD selling

• EUR$ 1.01%; specs +9.6k contracts now +111.1k; ECB ending cuts, Fed starting Sept

• $JPY -0.26%; specs +1.4k contracts now +132.3k; yen haven bid ebbing

• GBP$ +1.4% in period; specs -8.5k contracts now +34.4k; longs sell into 2025 highs

• $CAD +0.33%; specs +13.2k contracts now -52.2k; $CAD stalling near pre-Trump lvls

• With geopol tensions abating, mkts shift focus back to c.bank policy

• Fed seen on more dovish path into YE 2025 & 2026 weighing on USD

IMM Position Table as of Jun 24:


Majors w/IMM Performance:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)