USD Net Long at Most Since June 2010: CFTC Report

A quick look at the report:

• EUR shorts increased 46%, largest net short since July 2010
• JPY long up about 25%
• GBP short +34K to 59.7K, largest net short since Feb 2010
• AUD still long but cut back 14K to +23K
• CAD short trimmed by 1K to 5K
• CHF still net long but open interest dropping

This is as of the close on Tuesday. It helps to explain the declines this week in AUD and NZD as the market was still quite long heading into FOMC. Hard to draw any conclusions because so much has changed since Tues. One easytakeaway is that smart money is buying up USD and JPY.