Aside from the large drop in EUR shorts that Jamie noted, yen positioning has gone from long to short for the first time since May 2011.It concludes a three-week drop to a net short 1,203 compared to long 17,257 a week earlier.
Switches from long to short are a traditional sell signal and vice versa. The most recent example was CAD, which switched to long in early February and hit a six-month high yesterday.
The rest of the numbers:
- GBP shorts fell to -23,235 from -31,350
- AUD longs fell to 78,201 from 74,700
- NZD longs also pulled back to 22,114 from 24,211
- CAD longs climbed to 22,480 from 14,112
- CHF shorts were virtually unchanged at -19,391 vs -19,846