Scotiabank: speculators are hiding, and only in pound rates are growing in a serious way

As follows from the latest data from the CFTC, a week before December 5, speculative positioning in major currencies underwent a minimal change, and only in the pound there was at least something worthy of attention. In general, the mood of speculators has improved in all currencies, except for the yen and the loonie. The euro remains the main favorite, followed by the moons, the Aussies and the Mexican peso. Positioning in pound and kiwi is close to neutral, and the franc and yen are clearly sold. The volume of net shorts in the dollar increased by about 10%, but in absolute terms this change is minimal.
The bullish mood for the loonie continues to decline, and now the net long in Canadian currency has shrunk by almost half of the levels at the beginning of October. Aussie positioning has slightly improved for the first time since the end of September, and the volume of net long has also decreased almost twice from the highs of the end of September.
Interesting things happened in the pound: despite the fact that pure speculative positioning here remains neutral, during the reporting week both the general long (+ $ 2.0 billion) and the total short (+ $ 1.8 billion) rose sharply.
After two consecutive weeks of improving the speculative mood for the yen, the volume of pure shorts began to grow again, although it happened against the background of a reduction in positions by both bulls and bears

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