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Leveraged funds' dollar position remains stretched, we have seen this since late December. There was a small addition to the current net long, however, % of open interest is now stretched and near 5-year highs.
There was a sharp reduction in the sterling net long position held by hedge funds, a drop of 8.7pp left the % of open interest at 15.0%, a four-week low.
Yen and euro shorts were trimmed, both stand net short and the former is the most bearish position in our tracking list.
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