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10 Feb 2015
FX gamma positioning – DB
FXStreet (Barcelona) - The Research Team at Deutsche Bank notes that gamma positioning in G10 FX has moderated from last week.
Key Quotes
“Within the dollar-bloc, shorts below +1% of spot in AUD/USD and NZD/USD have been entirely pared.”
“In the yen crosses, downside shorts in USD/JPY and AUDJPY appeared milder, while longs have been added to around spot in EUR/JPY from -2% to 2%.”
“Only EUR/USD bucks this trend, with shorts extending below to -2% of spot.”
“In emerging markets, the picture is essentially unchanged in USD/Asia. Elsewhere, paring of topside shorts in USD/MXN and USD/TRY, and the addition of downside shorts in USD/ZAR and USD/ILS are of note.”
Key Quotes
“Within the dollar-bloc, shorts below +1% of spot in AUD/USD and NZD/USD have been entirely pared.”
“In the yen crosses, downside shorts in USD/JPY and AUDJPY appeared milder, while longs have been added to around spot in EUR/JPY from -2% to 2%.”
“Only EUR/USD bucks this trend, with shorts extending below to -2% of spot.”
“In emerging markets, the picture is essentially unchanged in USD/Asia. Elsewhere, paring of topside shorts in USD/MXN and USD/TRY, and the addition of downside shorts in USD/ZAR and USD/ILS are of note.”