• USD net G10 short -$0.94bn in the May 21-27 IMM period; $IDX -0.41%

• EUR$ 0.38% in period, specs +5k contracts now +79.5k; EUR bid despite exp'd ECB cut

• $JPY 0.15% in period, specs -3.3k contract now +164k; yen long holds near record high

• GBP$ +0.87%, specs +11.4k contracts now 35.4k; BoE hawkish cut keeps GBP by highs

• $CAD -0.71%, specs -37 contracts now -103.9k; despite $CAD dip, CAD short steady

• Note: yen long & CAD short remain significant subject to unwind risks

• Tariff tumult ebbing, if Fed shifts to dovish tack USD selling may ramp up; yen haven long likely to unravel

IMM Position Table as of May 27:


Majors w/IMM Performance Chart:


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