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The dollar is favoured by hedge funds as traders built the net long position higher for a third consecutive week, the % of open interest is now at 6.0%, the most bullish in three months.
Yen net shorts were built on the week as % of open interest in the position moved in favour of bears by 3.2pp to -8.4%, this is the most bearish since July. JPY bulls had taken over back in October, but the position by hedge funds turned net short three weeks ago.
Antipodes and sterling are held net long by fast money, however, there as a sharp reduction of the kiwi and pound positions this week. GBP leveraged funds' net long position remains stretched at 20.4% of open interest.
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