• Having fallen for six consecutive weeks, the latest snapshot shows an increase in USD longs.  Following the better than expected May payrolls report, there is reason to suspect that longs could increase again this week, says Rabobank.
  
  
• The level of EUR shorts rose for the second consecutive week. Not only has the ECB indicated that it will front-load some of its summer asset purchases but concerns that Greece could be on course for a default increased.  
  
  
• GBP net shorts pushed up to their highest levels since late April. Concerns about an austerity budget in July and a EU referendum could weigh on the pound going forward.  
  
  
• JPY shorts surged to their highest levels since January reflecting the break higher by USD/JPY in the spot market. 
  
  
• CHF net positions have held above zero for ten consecutive weeks with Grexit uncertainty likely driving safe haven demand, according to Rabobank.
  
  
• AUD positions dropped back into negative territory  on doubts about the recent consensus view that the RBA's easing cycle may be over. CAD positions also fell following a softening in oil prices and weaker Q1 GDP data.