FX WEEKLY POSITIONING BY LLOYDS TSB

GBP IMM positions at highest level since 2007, CAD positions also rise sharply

Crowded GBP longs

1. GBP IMM positions at highest level since 2007, CAD positions also rise sharply

2. JPY IMM positions turn net short for the first time since October

3. Risk reversals skew towards USD calls edges lower.

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