Long AUD exposure has increased substantially - BNPP

James Hellawell, Research Analyst at BNP Paribas, lists down their FX Positioning Analysis till 18th April 2016.

Key Quotes

• “Long AUD exposure has increased substantially. Combined with the USD, AUDUSD net positioning is at a multi-year high.

• Short NZD positioning has unwound at a score of -6 from -27.

• The long EUR, CHF and SEK long exposure has been fully unwound. EUR, CHF and SEK positioning now neutral.

• USD short positioning remains moderate at -18 with room to be built up further.

• Bearish GBP positions remain large at -35 while JPY long positioning remains close to its highest level since 2008.

• Absolute G10 FX positions have been cut back considerably, approaching the low seen at the end of 2015.”