British Pounds - Total o/i 185433; spreads 8899 (= 4.8%). Closing price on Sep 10th: 1.5735
The switch of trading months probably affected Spread numbers - they should settle down shortly.
Commercials
+36534 (from +47998) Large Specs -38166 (from -43046). Small Specs +1632 (from -4952)
Proportions:
Commercials (53.5% of total o/i) - 63.8% of Longs, 43.1% of Shorts, balance plus 20.7
Large Specs (29.4% of total) - 18.7% of Longs, 40.3% of Shorts, balance minus 21.6
Small Specs (17.1% of total) - 17.5% of Longs, 16.6% of Shorts, balance plus 0.9 Prices broke up from the recent range, and have continued higher since then. Commercials added to longs, but much more to shorts, as shown quite distinctly in the 'proportion' figures. They also increased their share of the total o/i once again. Small Specs increased longs considerably, but basically left shorts alone. This had the effect of moving them to nett long - not usually a constructive sign. As with Gold recently, Commercials have been taking advantage of higher prices to sell - and we can see what happened to Gold prices.
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