GBP: Title-holder in the G10 – Rabobank
|US Dollar (USD) net long positions have decreased. Euro (EUR) net short positions have decreased. GBP net long positions have decreased for the fifth consecutive week and JPY net short positions have increased, Rabobank’s FX analysts Jane Foley and Molly Schwartz note.
GBP is the only G10 currency to have outperformed the USD
“USD net long positions have decreased, driven by a decrease in long positions. The US presidential election was held on November 5th, and Donald Trump was announced as President-elect on November 6th, accompanied by a GOP-majority in the Senate. Congressional results have not been finalized, but the GOP has already flipped two seats previously held by the Dems.”
“EUR net short positions have decreased, driven by a decrease in short positions. Eurozone aggregate CPI inflation registered a slightly firmer than expected 2.0% y/y last week. The market is currently pricing in only 17.2% of a 50bp cut at the December 12th EUR is the second worst performing G10 currency month-to-date in the spot market, depreciating 1.84% against USD.”
GBP net long positions have decreased for the fifth consecutive week, driven by a decrease in long positions. GBP is the only G10 currency to have outperformed the USD year-to-date. JPY net short positions have increased, driven by an increase in short positions. JPY continues to be the worst performing G10 currency year-to-date, depreciating 6.97% against USD.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.