Speculators continue to buy "safe" currencies
Hedge funds and other major speculators continued to increase long positions in safe currencies during the last reporting week, according to the statistics of the CFTC Commodity Futures Trading Commission. The data is presented for the week before April 28.
Thus, the balanced long position of speculators in futures on the yen has increased from 26,026 to 32,326 contracts. This is the highest value since late March.
The long position on the Swiss franc rose from 4 924 to 5 576 contracts.
At the same time, the net shorts in GBP reached 6,681 contracts, which is the most bearish position since December.
The net position of speculators on the euro is still long. However, it declined from 87,218 to 79,681 contracts during the reporting week. Over the last 3 days of the last week the euro strengthened significantly against the dollar and reached 1.1017, which is the new highest value since April 1. The long position balance might have grown, which should reflect the data that will be published on the upcoming Friday.