Morgan Stanley FX Positioning Update

  • Since Monday, March 2, positioning in currencies has shifted. In the majors, the largest shorts are in EUR. There are no significant longs in the G10.
  • USD positioning is moving back towards long. Intra-week global macro hedge funds were buyers, and bullish sentiment increased.
  • EUR shorts remain relatively unchanged. Though the market is generally bearish, Japanese retail were small buyers this week.

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