Deutsche Bank - "Net implied USD longs fell from 13% to 8% of open interest the week before, making it the seventh consecutive fall. Since the first week of February, when longs as a percentage of open interest stood at 44% leverage funds have constantly reduced their longs holdings and have turned net short while asset managers have continued to build modest long positions. Speculative EUR longs were also trimmed and JPY shorts were added to. Commodity currencies (CAD, AUD and NZD) saw the most favorable changes in positioning. CAD shorts were reduced substantially by leverage funds (from around 60% open interest to near 20%). Also, speculative NZD positioning as a % of open interest is close to 56%. Long positions were added to by both leverage funds and asset managers."