As suggested in the CFTC Commitments of Traders report in the week ended November 26. NET LENGTH in USD Index slipped -487 contracts to 24 138. Speculative long positions fell -2 276 contracts and short positions dropped -1 789 contracts. Concerning European currencies, NET SHORT for EUR futures fell -1 087 contracts to 61 416. NET SHORT for GBP futures rose 4 673 contracts to 36 576. While opinion polls suggest that Conservatives would win the majority of seats, actual outcomes remain uncertain. Meanwhile, a Conservatives government would facilitate passage of PM Boris Johnson’s Brexit deal. Yet, the chance of hard of hard Brexit will also increase as Johnson favors a Canada-style trade arrangement with the EU after Brexit.On safe-haven currencies, Net SHORT for CHF futures added +4 783 contracts to 20 975. NET SHORT of JPY futures climbed +4 560 contracts to 39 591. On commodity currencies, NET SHORT for AUD futures dropped -1 885 contracts to 45 355. Speculative long positions soared +8 768 contracts while shorts added +6 883 contracts. Separately, NET SHORT for NZD added +727 contracts to 35 826 contracts last week. NET LENGTH for CAD futures declined -8 521 contracts to 20 344.

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