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Jan 17 - 04:55 PM

IMM: USD Net Spec Long Grew Ahead Of US Regime Change; GBP, Yen Sold, CAD Bought

By Paul Spirgel  —  Jan 17 - 04:30 PM

• USD G10 Net spec long grew in Jan 8-14 reporting period; USD index +0.48%

• EUR specs bottom-fish, GBP long almost completely evaporates, yen short grew

• EUR$ -0.32%, specs +3,727 contracts, now -60.4k; ECB on dovish path

• $JPY -0.05%, specs -9.2k contracts, now -29.4k; BoJ seen hiking yen positive

• Markets see 2 BOJ hikes in 2025, 1-2 Fed cuts, converging rates aid JPY

• GBP$ -2.1%; specs -14.1k contracts, now +438; Fiscal issues weighed

• $CAD -0.13%; specs +11.4k contracts now -167.2k; outlook neg for CAD

• CAD dominated by Trump tariff uncertainty and diverging US-CA policy paths

IMM Position Table:


Majors w/IMM Performance Chart:


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

 

Source:
London Stock Exchange Group | Thomson Reuters

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