Deutsche Bank - "Net implied USD longs bounced to 40% of open interest from 32% the week before, in line with the fight back in the broad dollar index and sell-off in US treasuries. The TFF report showed that hedge funds have increased their dollar exposure versus euro significantly over the past week. Net implied EUR long positions fell to 9% of open interest versus 16% the week before. Asset managers also extended their EUR short positions slightly.
Shorts were added to in GBP, CAD, AUD and NZD with hedge fund positioning explaining most of the moves. Speculative investors are now flat MXN (versus a long position of 38% open interest observed two weeks back), driven by leveraged funds who have added further to short positions. Longs in gold and oil were pared."