EUR/USD/Flows and Orders/USD/JPY

Overview of positioning in the professional market

EUR shorts have only increased slightly in the past week but they still remain the dominant large position in the market. CHF shorts are running a fairly close second although neither are close to extreme levels.

JPY shorts have been significantly reduced which should take the immediate downside pressure off USD/JPY. USD overall positioning has flipped from small short to modest long but in reality the overall level of positional risk is remarkably low.

(These figures are based on overall positioning amongst primarily leveraged, speculative players on 3 of the big bank trading platforms).

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