CFTC Positioning Report: Dollar net longs rose to 3-week highs

These are the main highlights of the CFTC report for the week ended on May 28.

• USD net longs climbed to the highest level in the last three weeks, as demand for the safe haven Dollar kept rising in tandem with trade concerns and global growth fears.
• Speculators added contracts to bothgross longs and shorts positions, taking GBP net shorts to multi-week highs amidst persistent uncertainty around the future of the UK government and the Brexit negotiations.
• EUR net shorts dropped to 2-week lows as market participants breathed in some relief in the wake of a better-than-expected outcome from the EU parliamentary elections, lending some support to the shared currency.
• Net longs in WTI retreated to the lowest level since March 19 on the back of the pick up in the US-China trade effervescence and its impact on global demand for the black gold.