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FXstreet.com (Barcelona) - According to Christian Lawrence, analyst at Rabobank: "Speculators are becoming increasingly negative on the EUR with net shorts continuing to rise as of July 17th. Despite this, the level of shorts is still noticeably less than during late May/early June." In line with rising risk aversion, USD longs increased. "The USD index has risen notably since July 17th and we are of the view that risk aversion is likely to dominate over the coming days which suggests that the next CFTC report may show a further increase in USD long positions." He said.

"Additional Yen longs added to last week's total which was more than double that of the previous week. That said the absolute levels of longs remains relatively moderate." He explained. As for the Sterling: "Although the fall in Sterling longs seen last week relative to the prior print has not been fully unwound, a small increase was noted in the week to the 17th," he added.

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