Speculators pare US dollar bets to lowest in 5 weeks -CFTC, Reuters
July 8 (Reuters) - Currency speculators further reduced their bets in favor of the U.S. dollar in the latest week to their lowest in more than a month, according to data from the Commodity Futures Trading Commission released on Monday. The value of the dollar's net long position fell to $8.65 billion in the week ended July 1, from $11.34 billion the previous week. Speculators have trimmed their net long dollar position for a third straight week, to their lowest since the week of May 27, according to Reuters data. To be long a currency is a view it will rise, while being short is a bet its value will decline. The week also saw a further build-up in euro short positions to 60,776 contracts from 57,503 previously. Investors grew cautious about a strong euro that could fuel discomfort among European monetary officials trying to boost the region's export sector. Speculators also raised their longs on sterling to 56,412 contracts last week from 49,751. That was the largest net long on the pound in 6-1/2 years. The Bank of England is still expected to be one of the first major central banks to raise interest rates. The Reuters calculation for the aggregate U.S. dollar position is derived from net positions of International Monetary Market speculators in the yen, euro, sterling, Swiss franc, and Canadian and Australian dollars. Japanese Yen (Contracts of 12,500,000 yen) 01Jul2014 week Prior week Long 18,739 10,325 Short 77,425 81,548 Net -58,686 -71,223 EURO (Contracts of 125,000 euros) 01Jul2014 week Prior week Long 52,665 55,062 Short 113,441 112,565 Net -60,776 -57,503 POUND STERLING (Contracts of 62,500 pounds sterling) 01Jul2014 week Prior week Long 99,929 98,098 Short 43,517 48,347 Net 56,412 49,751 SWISS FRANC (Contracts of 125,000 Swiss francs) 01Jul2014 week Prior week Long 9,731 9,069 Short 16,991 14,441 Net -7,260 -5,372 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) 01Jul2014 week Prior week Long 44,755 40,595 Short 42,060 45,915 Net 2,695 -5,320 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) 01Jul2014 week Prior week Long 76,598 65,612 Short 37,719 32,149 Net 38,879 33,463 MEXICAN PESO (Contracts of 500,000 pesos) 01Jul2014 week Prior week Long 85,387 84,943 Short 15,825 15,974 Net 69,562 68,969 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) 01Jul2014 week Prior week Long 26,563 24,855 Short 17,578 18,703 Net 8,985 6,152 (Reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)
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