CFTC Positioning Report: GBP net shorts receded to multi-week highs

These are the main highlights of the CFTC Positioning report for the week ended on June 4.

• Speculators trimmed their EUR net shorts to the lowest level since March 26 ahead of the ECB event (which was after the cut-off date). However, the central bank sound more dovish than estimated and will surely spark some changes in positioning for the following week.
• USD net longs receded to levels last seen in late March, although the underlying consolidative trend appears unchanged in spite of the pick up in trade jitters.
• GBP net shorts climbed to the highest level since January 22 against the usual backdrop of increasing uncertainty surrounding May’s successor and the relentless advance of the ‘no deal’ option among investors.