USD seems stronger

The USD longs of the speculative IMM traders have increased in the last CFTC reporting week, though it was a small change.

The USD optimism of the price sensitive market participants is pronounced but still a long way off the extreme levels seen in the past. This indicates, the USD strength seen over the past few weeks rests on a solid foundation. It is not caused by the fact that the speculative market participants have accumulated so many dollars that they are on their last legs, says Commerzbank. And for the first time in weeks participants entered into sizeable EUR shorts.