Latest market research shows that the speculative market is long USD across the board, with positions at 18 month highs in some cases.
The market is only tiny short of GBP but has almost equal exposure against the EUR, JPY, CAD, AUD and NZD.
Relatively speaking the size of the short NZD positions looks most ‘dangerous’ so looking for dip-buying opportunities in the NZD/USD looks like a reasonable risk-reward trade.
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