Deutsche Bank - "Net implied USD longs reached 44% of open interest from 40% the week before, marking the third consecutive rise over the past month. However, asset managers decreased their USD long positions notably over the week according to the TFF report, reflecting a general lightening of positions across all currencies. EUR speculative long positions were pared substantially as hedge funds cut longs from 17% of open interest to 8%. Asset managers modestly reduced shorts in the currency.
Speculative JPY shorts were extended. This was because of hedge funds extending short positions. Their short position is now 60% of open interest. The most short they have been this year is 67%. Shorts were pared back for the dollar bloc currencies. MXN longs were added to. Longs in gold and oil were trimmed further."