British Pounds - Tuesday's close was higher, at 1.5570, and values have continued to advance slightly since then. The figures suggest that this trend should continue.
Total o/i was down a little, but not to any remarkable extent, while spreads were almost unchanged, still at 1.4% of the total.
Commercials once again raised their share of total Longs, to 74.8%
(from 69.5%), and again reduced their share of Shorts, to 53.0%
from 59.0%.
Nett therefore moved to plus 21.8, from plus 10.5. This is the highest figure for some time (mid-March, in fact). Large Specs moved to 15.9% of total Longs (from 21.5%), and
- significantly - to 29.0% of total Shorts (from 23.1%) - their nett
moved from minus 1.6 to minus 13.1. Small Specs showed little overall change on the week, with 9.3% of
total Longs (from 9.0%), and 18.0% of total Shorts (from
17.9%) - their nett therefore moved from minus 8.9 to minus 8.7. This is still on the high side, suggesting sizeable shorts are still in weak hands.
Nett differences continued to move in the same direction as previously, with Commercials plus
38353 (from plus 19090), Large Specs minus 23112 (from minus 2867), but
Small Specs barely changed, at minus 15241 (from minus 16223).
We remain on the bull side of the Pound.
We remain on the bull side of the Pound.
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