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Speculators lift net US dollar longs in latest week-CFTC, Reuters
(Adds details about dollar, sterling contracts; adds table)
Oct (HKSE: 3366-OL.HK - news) 2 (Reuters) - Speculators increased bullish bets on the
U.S (Other OTC: UBGXF - news) . dollar, after hitting their lowest level in more than a
year in the previous week, according to Reuters calculations and
data from the Commodity Futures Trading Commission released on
Friday.
The value of the dollar's net long position rose to $21.73
billion in the week ended Sept. 29, from $20.48 billion the week
before. This was the first increase in net dollar longs in three
weeks. That said, this was the sixth straight week dollar longs
came in under $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.
The dollar's fortunes have been tied the last couple of
months to the outlook for U.S. interest rates, which has changed
constantly, in line with U.S. economic data. The longer the
Federal Reserve delays raising interest rates, the more the
dollar struggles.
For the month of September though, the dollar index was up
0.5 percent, way off the steep gains seen early this year.
On a broad basis, the Fed is still expected to be the first
major central bank to raise interest rates and that is seen
benefiting the dollar. But the uncertainty about the timing of
that first interest rate increase from the Fed has limited the
dollar's upside and appeal to investors.
In other currencies, the British pound turned net short to
the tune of 2,047 contracts in the latest week, after posting a
net long position the previous week.
The other notable changes were an increase in net shorts for
the Canadian dollar and a big jump in Mexican peso short
contracts.
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.
Japanese Yen (Contracts of 12,500,000 yen)
29 Sep (Shanghai: 600021.SS - news) 2015 Prior week
week
Long 39,753 48,282
Short 61,805 71,960
Net (LSE: 0LN0.L - news) -22,052 -23,678
EURO (Contracts of 125,000 euros)
29 Sep 2015 Prior week
week
Long 61,932 63,526
Short 149,592 144,559
Net -87,660 -81,033
POUND STERLING (Contracts of 62,500 pounds sterling)
29 Sep 2015 Prior week
week
Long 49,815 45,001
Short 51,862 43,734
Net -2,047 1,267
SWISS FRANC (Contracts of 125,000 Swiss francs)
29 Sep 2015 Prior week
week
Long 13,266 13,722
Short 15,981 15,598
Net -2,715 -1,876
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
29 Sep 2015 Prior week
week
Long 36,211 40,901
Short 78,446 79,295
Net -42,235 -38,394
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
29 Sep 2015 Prior week
week
Long 44,560 42,666
Short 93,425 95,498
Net -48,865 -52,832
MEXICAN PESO (Contracts of 500,000 pesos)
29 Sep 2015 Prior week
week
Long 31,276 47,626
Short 75,727 59,982
Net -44,451 -12,356
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
29 Sep 2015 Prior week
week
Long 20,995 22,990
Short 24,057 26,519
Net -3,062 -3,529
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Meredith
Mazzilli and Diane Craft)
