Commercials -36501 (from -35420) Large Specs +18429 (from +18369) Small Specs +18072 (from +17051)
Commercials (62.4% of total o/i) - 55.1% of Longs, 69.7% of Shorts, balance minus 14.6Large Specs (24.8% of total) - 28.5% of Longs, 21.1% of Shorts, balance plus 7.4
Small Specs (12.8% of total) - 16.4% of Longs, 9.2% of Shorts, balance plus 7.2
Not a great deal of guidance this week, with Commercials a little less short (proportionately), but still taking the short side overall. They have increased their share of the total open interest, so their position may be increasingly significant. Specs - both Large and Small - have reduced their commitments, but not changed their outlook. On balance, it appears that the pound will move more easily down than up.