Trade jitters, Fed pushed USD net longs further

According to the latest CFTC report for the week ended on August 28:

• USD net longs reached the highest level since May 9 2017, as speculators continued to factor in the likelihood of two more rate hikes by the Federal Reserve this year, while jitters stemming from the EM FX continued to support inflows into the buck.
• GBP net shorts climbed to the highest level since early May 2017 following the lack of any significant progress in the Brexit negotiation and the omnipresent uncertainty around May’s government.
• EUR net shorts in 3-week highs. The single currency remained under pressure as investors continued to show concern over the fiscal situation in Italy.