From the FXWW Chatroom – Just went through last week’s cot…short term, the run thru 1.30 carried higher open interest w/large specs adding long-sided business…even if one negative brexit headline from invalidating the view, but that’s the state of play today… https://www.globalprime.com.au/news/cot-analysis-bullish-sterling-aussie-shows-high-interest/ for what’s worth, this new input marries well with the storyline of shorts exhausting and as anthony barton recently highlighted, 25-delta 3m RR near cycle low (captures touted Oct & Nov deadlines) + large net short position in GBP futures = Pessimism priced in = Positive Brexit news have greater effect vs negative headlines.
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