This summary highlights futures positions and changes made by speculators in forex, bonds and stocks up until last Tuesday, August 25. A week that saw a continued rally in U.S. stocks with the S&P 500 adding another 1.6%. The dollar rose for a second week while bonds held steady ahead of Fed chair Powell’s speech last Thursday.
Following a brief pause, speculators resumed their dollar selling during the week to August 25, a week where the Greenback actually recorded broad gains against the ten IMM currency futures and the Dollar Index tracked in this. The net dollar short rose by $2.6 billion to reach $34.8 billion and we have to go back more than nine year to find a similar level of aggressive dollar selling.