BNP Paribas Positioning Analysis:
From a historical perspective, NZD positioning still overwhelmingly short and susceptible to a squeeze.
* Net short positioning in CHF rises significantly. We calculate CHF is now the largest short, overtaking the JPY.
* Investors have turned bearish on GBP and maintain slightly bearish views on the AUD and SEK.
* NOK long positioning has reduced, initially driven by the Fund Position Tracker component.
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