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Forex pairs in this Article » EUR/USD, USD/JPY (Barcelona) - For the week ending November 12, as Nomura Strategists note, there was $7.9bn USD buying, bringing positioning to $14.5bn of net longs, while on the flip side, there was -$2.8bn of EUR selling, reducing net longs to $2.8bn, and JPY selling of -$2.6bn, bringing net shorts to -$11.9bn.

Key Quotes

"Specs bought $7.9bn of USD, bringing spec positioning to $14.5bn of net longs. This is the most net long since the week ending September 17 (right before the September FOMC meeting). This brings the two week total of buying to $18.6bn by speculative positions, the largest two week total since the week ending March 5. According to our real time estimates there has been no change in positioning since Tuesday, however."

"There was -$2.8bn of EUR selling on the week, bringing net longs to $2.8bn. This is down from a net long of $12.1bn on October 29.Our real time estimates suggests that there has been slight buying between Tuesday and Friday, bringing the Friday net longs to $3.5bn."

"Specs sold -$2.6bn of JPY on the week, bringing shorts to -$11.9bn.This is the most net short JPY spec positioning has been since May 28 though it was close also throughout September. Our real time estimators suggest that specs added to their JPY shorts further through the end of the week, bringing total positioning to -$12.6bn by Friday. Specs also sold -$1.0bn of AUD, -$0.7bn CHF, and -$0.7bn of GBP on the week."
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