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COT report: USD longs continue to decline before FOMC - Rabobank

FXStreet (Córdoba) - Analysts from Rabobank, took note of the latest Commitment of Traders (COT) report elaborated by the US Commodity Futures Trading Commission with data as of September 15. They note a decline in long USD positions and an increase in EUR shorts.

Key quotes:

“EUR shorts continued to climb last week ahead of the September FOMC in a sign that risk appetite may have been building. That said, the softer tone of EUR/USD in the spot market ahead of the Fed policy meeting was reversed after the event.”

“Net USD longs continued to drop ahead of the Fed meeting last week coincident with expectations that rates were likely to be left on hold.”

“JPY shorts increased again last week though they remain well off their recent highs. Speculation that the BoJ could ease again this year could temper support for the yen going forward.”

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