Pound speculators further reduce net long positions

Large currency speculators continue to reduce net long position in the Pound futures from their highest level in more than 10 years, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Pound futures, traded by large speculators and hedge funds, totaled a net long position of 47812 contracts in the data reported through August 13, 2024. This was a weekly decrease of 26587 net contracts.