Hedge Funds Drastically Reduce Long Peso, Add Swiss Franc Positions: CFTC Data

Hedge funds covered their shorts in GBP this week ending June 18, reducing by 37 percent, and in CHF, reducing by 67 percent according to data just released by the CFTC. The data also show that longs in MXN futures were down by 44 percent while longs in EUR futures were increased. CFTC’s latest report shows that leveraged funds have been taking down their longs in the Mexican peso for the fourth straight week now.  Last week, these funds reduced long contracts in MXN from 59,441 positions to 32,927, a 44 percent reduction. In the meantime about 9,000 new short bets…