Speculators cut net U.S. dollar longs to lowest since mid-June-CFTC, Reuters
(Adds table, details on euro, yen contracts)
Aug 28 (Reuters) - Speculators pared back bullish bets on
the U.S (Other OTC: UBGXF - news) . dollar in the latest week to their smallest in more
than two months, according to Reuters calculations and data from
the Commodity Futures Trading Commission released on Friday.
The value of the dollar's net long position fell to $23.99
billion in the week ended Aug. 25, from $32.26 billion the
previous week. This was the first time in four weeks that net
dollar longs came in below $30 billion.
To be long a currency is to make a bet it will rise, while
being short is a bet its value will decline.
Concerns about global equity weakness and China's deepening
slowdown convinced speculators that the Federal Reserve would
delay raising interest rates. That prompted a sell-off in the
dollar the last two weeks.
At the same time, investors bought back the euro and yen, as
they unwound carry trades, or bets in high-yielding assets,
funded in both low-interest rate currencies.
As a result, net euro short contracts dropped to 66,078 in
the latest week, from 92,732 previously. This week's net euro
shorts were the smallest in more than a year.
Net short yen contracts also fell to 39,059, from 90,130 the
previous week. That was the lowest net shorts since mid-May.
The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
Market speculators in the yen, euro, British pound, Swiss franc
and Canadian and Australian dollars.
YEN (Contracts of 12,500,000 yen)
Aug. 25, 2015 Prior week
week
Long 59,922 45,935
Short 98,981 136,065
Net -39,059 -90,130
EURO (Contracts of 125,000 euros)
Aug. 25, 2015 Prior week
week
Long 87,807 68,473
Short 153,885 161,205
Net -66,078 -92,732
POUND STERLING (Contracts of 62,500 pounds sterling)
Aug. 25, 2015 Prior week
week
Long 58,051 52,030
Short 54,752 56,001
Net 3,299 -3,971
SWISS FRANC (Contracts of 125,000 Swiss francs)
Aug. 25, 2015 Prior week
week
Long 4,889 8,183
Short 17,486 18,051
Net -12,597 -9,868
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
Aug. 25, 2015 Prior week
week
Long 29,555 21,407
Short 89,267 88,201
Net -59,712 -66,794
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
Aug. 25, 2015 Prior week
week
Long 47,275 47,544
Short 111,002 97,427
Net -63,727 -49,883
MEXICO PESO (Contracts of 500,000 pesos)
Aug. 25, 2015 Prior week
week
Long 20,401 24,629
Short 103,454 85,056
Net -83,053 -60,427
NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars)
Aug. 25, 2015 Prior week
week
Long 15,388 14,012
Short 21,451 23,969
Net -6,063 -9,957
(Reporting by Gertrude Chavez-Dreyfuss; Editing by James
Dalgleish)