Leveraged funds’ long GBP came close to one-year high - Nomura

Analysts at Nomura offered their leveraged funds’ / asset managers’ balance breakdown.

Key Quotes:

"GBP: In the week ended 21 November, leveraged funds' net short positioning in GBP increased to 26% from 22% the previous week. A one-year high of 29% was recorded in early October. In contrast, asset managers’ net short GBP positioning decreased to 63% from 65%. 

NZD: Leveraged funds decreased net short NZD positions to 32%, from the previous week of 36%, the highest short positioning over the past year. On the contrary, asset managers’ net short positioning in NZD increased to 44%, from 14% the previous week. 

EUR&JPY: Leveraged funds increased net short EUR positions slightly from 4% to 5%, positioning net short for a fourth week. Asset managers’ net long EUR positioning continued to hold near 39%. On the other hand, leveraged funds cut net short JPY slightly to 62%, from 63% the previous week. A one-year high of 64% was recorded in late July. Asset managers’ net short JPY positioning rose to 30%, from 27%. 

USD: Our BIS volume-weighted proxy shows that leveraged funds’ net long USD positioning was unchanged at 9%, maintaining a net long position for a fourth week."