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US dollar net bullish positions fell to the lowest since December

FXStreet (Mumbai) - The latest data for the weekly Commitment of Traders (COT) report showed speculators decreased their overall net bullish positions for the US dollar last week for a fourth week and to the lowest level since December.

Overall US dollar long position totaled USD 37.87 billion as of Tuesday April 21st. This was a weekly change of –USD 1.81 billion from the USD 39.68 billion total long position registered in the previous week. The latest speculative level is at the lowest since December, when net positions equaled USD 34.64 billion.

Other notable weekly changes

Euro bets dropped slightly to -214,645 net contracts, while Japanese Yen bets improved to total a small bearish position of -14,448 contracts. Swiss Franc bets improved slightly to remain in a small bullish position of +335 contracts.

BoJ expected to refrain from further easing – BTMU

With BoJ set to meet in the week ahead and also release its semi-annual economic outlook report, Lee Hardman, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ, expects the central bank to lower its growth and inflation forecasts for 2015, and further anticipates the bank to refrain from further easing.
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EUR/USD needs to clear 1.10/1.11 to signal a potential reversal – Rabobank

In the opinion of Jane Foley, Senior FX Strategist at Rabobank, the pair needs to surpass the 1.10/1.11 area in order to signal a probable reversal...
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