British Pounds - Total o/i 146335; spreads 3037 (= 2.1%).
Commercials +62370 (from +66356). Large Specs -49463 (from -49653). Small Specs -12907 (from -16703).
Commercials (52.3% of total o/i) - 74.1% of Longs, 30.6% of Shorts, balance plus 43.5
Large Specs (31.3% of total) - 14.1% of Longs, 48.6% of Shorts, balance minus 34.5Small Specs (16.4% of total) - 11.8% of Longs, 20.8% of Shorts, balance minus 9.0
Prices by last Tuesday's close had dropped to 1.5240, and have remained erratic since then, with the latest close around 1.53 (after 1.51). With very little change showing in most holdings - the decline in Small Specs' shorts being probably the most significant - and with Commercials remaining quite long, we can only repeat last week's comment - with no excesses showing, these figures suggest the Pound should remain steady, but unexcitingly so - in the medium term, that is - in the short term, the spread of positions held suggests continued choppy moves.