The CFTC’s latest weekly Commitments of Traders report showed non-commercial traders’ net speculative position in British pound futures narrowing to £-54.6K from £-56.2K, a 1.6K-contract reduction in bearish exposure. The position remains net short, meaning short contracts still outnumber long contracts, but the change suggests some traders may be covering bearish bets or adding long exposure. COT data is released each Friday and reflects positions held as of the previous Tuesday. The shift offers a snapshot of short-term sentiment rather than a standalone forecast, and the pound remains influenced by UK inflation and growth concerns, global risk appetite, interest-rate differentials, monetary policy expectations and geopolitical developments.