Non-commercial investors reduce long JPY and CHF positions

- "The latest IMM data cover the week from 20 to 27 July."
- "Speculative investors have recently reduced net long JPY and CHF positions. The moves
occurred in a week with strong gains in the equity market where the safe-haven currencies
- "Net short GBP positions have been reduced while short EUR positions have been unchanged. Both are well below the panic levels observed earlier this year."
- "Net long non-commercial NZD, MXN an AUD positions remain at stretched levels and have been extended further. Risk of a ‘long squeeze’ remains."

DenDanske IMM Positioning 20100802

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