USD on Weaker Footing versus GBP, JPY, NZD after Positioning Shifts
- NZDUSD positioning flips, confirming the recent bottoming effort.
- Gold rally will struggle as long as crowd remains net-long.
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Weekly Summary of Forex Trader Sentiment and Changes in Positioning
The US Dollar finds itself on increasingly shaky footing as the retail crowd takes on more long USD exposure. Recent weakness versus the commodity currencies may continue for the greenback, with the retail crowd flipping to net-short in NZDUSD.
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--- Written by Christopher Vecchio, Currency Strategist
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