fxstreet.com 08 Feb, 2021 08:45 am

EUR net longs in multi-month lows

EUR net longs in multi-month lows
These are the main highlights of the CFTC Positioning Report for the week ended on February 2nd: Net longs in EUR receded to levels last seen in mid-N

These are the main highlights of the CFTC Positioning Report for the week ended on February 2nd: Net longs in EUR receded to levels last seen in mid-November 2020.Gross longs in the British pound rose for the second consecutive week and pushed net longs to 2-week highs.JPY net longs retreated to levels last seen in mid-December 2020.Speculators remained negative on the USD despite the rebound in US yields and auspicious results in key fundamentals.

The rebound in US yields and the better tone in the riskier assets in combination with the downtrend in the volatility index favoured JPY-sellers.In addition, the vaccine rollout in the US keeps outperforming its peers and is expected to keep lending support to the buck in coming days.

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