巴黎银行-全球-外汇市场-外汇定位分析-20180122-12页

Pleaserefertoimportantinformationattheendofthereportwww.GlobalMarkets.bnpparibas.comThisdocumenthasbeenproducedby:BNPParibasLondonBranchNatalieRickardFXStrategist?ShortUSDpositionsremainextreme,withthescoreextendingto-44(-/+50scale).ThisisthelargestshortUSDscoresinceourmetricbeganin2007.?LongEURpositionscontinuetobeheldaheadofthisweek’sECBmeeting,atascoreof+23.?ThemarkethasentirelyunwounditsshortJPYpositionsincethestartoftheyear,andisnowflatJPYaheadoftheBoJmeeting.?ModeratelongGBPpositionshavebeenbuiltoverthisweek.FXfundsappeartohavecutbacklargeGBPshortpositions.Chart1:BNPParibasFXPositioningAnalysis–OverallPositioning*Source:BNPParibas*Thepositioningscoresabovearereportedasapercentilebasedonthepriorfiveyearsofdata.Thesepercentilesarerescaledtogiveavaluebetween-50and+50.Valuesabove40andbelow-40repr