Futures market speculative positioning data from the CFTC Commitments of Traders report as of the close on Tuesday, Sept 10, 2013:
- EUR net long 13k vs long 22k prior
- JPY net short 95K vs short 80K prior
- GBP net short 38K vs short 43K prior
- AUD net short 60K vs short 72K prior
- CAD net short 31K vs short 35K prior
- CHF net long 0k vs long 1K prior
- Dollar Index net long 21K vs 12K prior
The market has been long and wrong on the US dollar. Traders pared some positions but added heavy on USD/JPY longs. That trade is awfully crowded and it could mean fast profit taking on any post-FOMC bounce.