<p>Asia FX positioning has reached the heaviest level since Jan-2021, according to Deutsche Bank metrics. The rallies in Asian currencies over the past three months average 9% and that prompted them to lower the basket to 'hold' from 'add' last week.</p><p>They also note that following last week's central bank meetings, speculators added to euro longs while lowering exposure to GBP.</p><p>Their data adds to the argument for a reversal higher in USD/JPY as it is particularly crowded.</p>
This article was written by Adam Button at www.forexlive.com.
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