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Non-Commercials increased their net long positions in the Euro last night buying a further 13k contracts to take the total position to 147k contracts. EUR long positioning is now back up to its highest levels of the year as the market readies itself for ECB monetary policy normalisation. Recent data has caused some market players to approach this view more cautiously however though ECB commentary remains upbeat and supportive.Traders now await the upcoming April ECB meeting for the bank’s latest assessment and outlook.
Non-Commercials increased their net long positions in Sterling last week buying a further 3k contracts to take the total position to 43k contracts. GBP continues to be steadily bid as investors respond positively to strong UK data and encouraging developments within the ongoing Brexit negotiations. The agreement on a transitional period for the UK was a positive surprise and with political uncertainty having receded the market is now once again focused on...
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