G10 FX Positioning: GBP turns net long - ING

Analysts at ING point out that GBP positioning turned net long for the first time since October 2015 as the BoE talks up 2017 rate hike prospects, while short-term political risks diminish

Key Quotes

“JPY shorts picked up on the week and registered a bearish signal on our monthly sentiment indicator. But with net USD positions turning more negative, we believe any positive US story is only really being played out in USD/JPY.”

“Spec markets still remain bullish on CAD, though a more conservative Poloz and soft Canadian data is likely to test this sentiment.”