Speculators raise bullish U.S. dollar bets in latest week -CFTC
Nov 3 (Reuters) - Speculators increased bullish bets on the U.S. dollar in the latest week, data from the Commodity Futures Trading Commission showed last Friday. The value of the dollar's net long position grew to $42.39 billion in the week ended Oct. 28, from $41.20 billion the previous week. It was the fourth straight week that U.S. dollar longs have touched at least $40 billion, reflecting broad optimism for the greenback among short-term speculators. Last week, the Federal Reserve ended its asset purchase program and acknowledged the U.S. economy's growing strength. That further bolstered the dollar's upbeat outlook. On the year, the dollar index has risen nearly nine percent. To be long a currency is to take a view it will rise, while being short is a bet its value will decline. Speculators further added to euro shorts, which totaled 165,707 contracts, from 159,371 the previous week. Net euro short contracts last week were the largest since July 2012. Fears about deflation in Europe have driven investors to sell the euro, which has lost nine percent of its value against the dollar so far this year. The Reuters calculation for the aggregate U.S. dollar position is derived from net positions of speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars. Japanese Yen (Contracts of 12,500,000 yen) 28Oct2014 week Prior week Long 23,883 26,634 Short 91,282 98,372 Net -67,399 -71,738 EURO (Contracts of 125,000 euros) 28Oct2014 week Prior week Long 59,054 60,188 Short 224,761 219,559 Net -165,707 -159,371 POUND STERLING (Contracts of 62,500 pounds sterling) 28Oct2014 week Prior week Long 40,718 36,567 Short 46,965 41,052 Net -6,247 -4,485 SWISS FRANC (Contracts of 125,000 Swiss francs) 28Oct2014 week Prior week Long 6,887 7,643 Short 27,170 25,505 Net -20,283 -17,862 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) 28Oct2014 week Prior week Long 26,093 28,837 Short 47,498 50,371 Net -21,405 -21,534 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) 28Oct2014 week Prior week Long 17,446 13,951 Short 51,297 45,460 Net -33,851 -31,509 MEXICAN PESO (Contracts of 500,000 pesos) 28Oct2014 week Prior week Long 26,832 30,087 Short 53,675 51,211 Net -26,843 -21,124 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) 28Oct2014 week Prior week Long 8,506 8,526 Short 12,404 10,858 Net -3,898 -2,332 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Nick Zieminski)
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