COT data of Dec 9th 2014 - British Pound [BP], Dollar Index [DX]

British Pounds - Total o/i 192104, spreads 12696 (6.6%).  Closing price Dec 9th 1.5670

  Nett differences:  Commercials  +38450 (from +49426)  Large Specs -23602 (from -31014)
                              Small Specs -14848 (from -18412)

  Proportions:

 Commercials (58.5% of total o/i) - 

 69.2% of Longs (from 68.3%), 47.8% of Shorts (vs 38.9%), balance plus 21.4 (vs plus 29.4)

 Large Specs (27.6% of total) - 

  21.0% of Longs (from 23.0%), 34.1% of Shorts (vs 41.4%), balance minus 13.1 (vs minus 18.4)   Small Specs (13.9% of total) - 

 9.8% of Longs (from 8.7%), 18.1% of Shorts (vs 19.7%), balance minus 8.3 (vs minus 11.0) 
Commercials seem to be giving up on their previous bullish view - although they once again added to longs, they added far more to shorts, bringing their nett long position down considerably. Small Specs again reduced their total involvement, becoming less short overall, but this (together with the big increase in speads) may simply be a result of the current switch of trading position, from Dec to March. Nett changes still suggest there may be slightly more room on the upside than the down. 

Dollar Index: Total o/i 94289, spreads 3520 (3.7%). Closing price Dec 9th 88.72

Nett differences:  Commercials -49821 (from -49049)  Large Specs +36406 (from +36155)
                              Small Specs +13415 (from +12894)

Proportions -

Commercials (37.1% of total o/i) - 9.7% of Longs (from 9.5%), 64.6% of Shorts (vs 61.6%), balance minus 54.9 (vs minus 52.1)

Large Specs (54.2% of total) - 74.2% of Longs (from 75.3%), 34.1% of Shorts (vs 36.9%), balance plus 40.1 (vs plus 38.4) 

 Small Specs (8.7% of total) - 16.1% of Longs (from 15.2%), 1.3% of Shorts (vs 1.5%), balance plus 
 14.8 (vs plus 13.7)

Commercials added to shorts, Small Specs added to longs - not normally signs of a strong advance in the short term ...