The CFTC Commitments of Traders report in the week ended June 18 shows that NET LENGTH in USD Index gained +4 560 contracts to 28 549. Speculative long positions added +3 434 contracts while short positions decreased -1 126 contracts during the week. We expect NET LENGTH to decline in the week ahead, as USD slumped after the June FOMC meeting revealed that more members favored rate cut this year. All other major currencies stayed in NET SHORT positions.