UK Commodity Futures Trading Commission data showed GBP non-commercial net positions moved higher from -79.4k to -59.8k. The shift indicates a reduction in net short exposure in sterling futures versus the prior reporting period.
Overall Positioning Remains Net Short
Positioning remained negative overall, meaning speculative accounts were still net short GBP on a net basis.
Net Shorts See Notable Reduction
However, the latest figures point to less bearish positioning than before, with net shorts reduced by 19.6k contracts.