• USD net G10 spec short pared by $4.1bn in May 14-20 IMM period; $IDX -0.95%

• Specs bottom-fishing the USD in earnest, USD short dropped after US-China tariff delay

• EUR$ +0.88% in period, specs -10.3k contracts now long 74.5k contracts

• $JPY -1.96%, specs sold 5k contracts now long 167.3k contracts, still significant

• GBP$ +0.6%, specs -3.2k contracts long dips to 24k contracts

• $CAD -0.14%, specs -21.7k contracts now -103.9k contracts

• AUD$ -0.69%, specs -9.7k contracts now -59.1k; global growth (China) still a concern

• Note; today's renewed Trump tariff threats weighed heavily on USD, likely moots USD bid

Majors w/IMM Positioning Chart:


IMM Position Table as of May 20:


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