IMM Report: Net Short GBP At A Fresh Record High - Scotiabank

Net short GBP position has deteriorated for a sixth consecutive week and has pushed to a fresh record high, according to data in the latest IMM report covering up to Tuesday March 14, notes Scotiabank FX Strategy.

Elsewhere, Scotiabank points out that that this week’s changes in sentiment were also dominated by major currencies, with a sizeable narrowing in the net EUR short and a second consecutive weekly deterioration in the net JPY short.

Finally, Scotia notes commodity currencies CAD and AUD also suffered on a w/w basis, their second consecutive week of deterioration

Source: Scotiabank Research