Long AUD Exposure has Increased Substantially - BNPP
James Hellawell, Research Analyst at BNP Paribas, lists down their FX Positioning Analysis till 18th April 2016.
• “Long AUD exposure has increased substantially. Combined with the USD, AUDUSD net positioning is at a multi-year high.
• Short NZD positioning has unwound at a score of -6 from -27.
• The long EUR, CHF and SEK long exposure has been fully unwound. EUR, CHF and SEK positioning now neutral.
• USD short positioning remains moderate at -18 with room to be built up further.
• Bearish GBP positions remain large at -35 while JPY long positioning remains close to its highest level since 2008.
• Absolute G10 FX positions have been cut back considerably, approaching the low seen at the end of 2015.”