As suggested in the CFTC Commitments of Traders report in the week ended September 14, NET SHORT of USD index futures gained +2 808 contracts to 24 273. In light of hopes that the Fed would announce plans to taper QE at next week’s meeting, traders increased speculative longs but trimmed shorts. Concerning European currencies, NET LENGTH in EUR futures added +1 497 contracts to 27 805. GBP futures returned to NET LENGTH of 29 314 contracts. UK’s inflation rallied to a record high of +3.2% in the 12 months to August, compared with +2.1% in the 12 months to July. Stronger-than-expected inflation might accelerate the pace of BOE’s first rate hike. Yet, slow GDP growth as complicated the picture.