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Feb 23 - 06:55 PM

USD: IMM Data Points To Risk Of Triggering A Short Squeeze In USD Positions - MUFG

By eFXdata  —  Feb 23 - 03:00 PM

MUFG Research discusses the latest IMM report and flags a scope for USD short squeeze.

"The release of the latest IMM report at the end of last week revealed that Leveraged Funds continued to pare back short US dollar positions in the week ending the 16th February although they remain elevated. It was driven by a reduction in long positioning in the Australian dollar, Canadian dollar, euro and Swiss franc," MUFG notes.

"Perhaps reflecting some caution amongst market participants at least that the move higher in US yields poses the risk of a triggering a short squeeze of US dollar positions," MUFG adds. 

Source:
MUFG Research/Market Commentary

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