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Forex pairs in this Article » EUR/USD (Barcelona) - As reported by Rabobank, the IMM net positioning as at 12 November 2013, showed EUR longs pared by almost half after the surprising ECB rate cut, with positions back to levels last registered in September.

Key Quotes

"By contrast USD longs doubled in size, though they remain significantly smaller than the levels maintained in mid-September. The debate regarding when the Fed will start to taper the size of its monthly asset purchases remains dominant."

"While USD longs crept higher on the back of the better than expected US October labour data, last week’s dovish commentary from Janet Yellen could limit further growth in longs this week."

"JPY net shorts jumped higher last week back to levels last seen in May. Speculation that the BoJ could ease even further next year remains in place."

"Sterling positions dropped further into negative territory. In last week’s Inflation Report, the BoE brought forward its indication for the first rate hike of the cycle. This should lend support."

"Net CHF longs dropped back a little further last week but are holding on to positive ground. CAD shorts consolidated last week. The BoC last month dampened talk of a 2014 rate hike. AUD shorts increased again."
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