The following is BNP Paribas' (PARIS:BNPP) latest overall FX positioning analysis as reflected, inter alia, in BNPP's clients exposure, IMM data and FX Fund position tracker.
"Markets are moderately long the USD and GBP. There remains scope for long GBP and USD positions to build further.
Sentiment towards the EUR continues to improve. All EUR components, with the exception of IMM, are now positive.
Amongst the commodity bloc the CAD, NOK and NZD have the largest short positions, significantly larger than the short positioning in the AUD," BNPP notes.