February 5, 2019 / 9:11 PM / 2 months ago

UPDATE 1-Speculators cut long dollar bets in week of Dec. 31 -CFTC, Reuters

 (Adds details, table)
    By Saqib Iqbal Ahmed
    NEW YORK, Feb 5 (Reuters) - Speculators trimmed their net
long bets on the U.S. dollar in the week ended Dec. 31,
according to calculations by Reuters and Commodity Futures
Trading Commission data released on Tuesday.
    The value of the net long dollar position was $30.16
billion, compared with $32.48 billion in the week ended Dec. 24.
The speculative market has been long on the dollar since
mid-June last year.
    To be long on a currency means traders believe it will rise
in value, while being short points to a bearish bias.
    U.S. dollar positioning was derived from net contracts of
International Monetary Market speculators in the yen, euro,
British pound, Swiss franc and Canadian and Australian dollars.
    Due to the 35-day partial U.S. government shutdown, the CFTC
stopped releasing the data but resumed last week, starting with
the figures for the week of Dec. 24, 2018.
    In a broader measure of dollar positioning that
includes net contracts on the New Zealand dollar, Mexican peso,
Brazilian real and Russian ruble, the U.S. dollar posted a net
long position of $29.55 billion as of Dec. 31, 2018, compared
with $32.03 billion, a week earlier.
    The dollar, which rose about 4 percent in 2018, helped by 
safe-haven flows amid persistent equity market volatility, had
weakened in the last days of 2018 as stocks rebounded from a
sharp sell-off and risk appetite returned.
    In the cryptocurrency market, speculators' net short
position on bitcoin Cboe futures totaled 1,230 contracts in the
week ended Dec. 24, down from 1,142 the previous week.
    Bitcoin remains entrenched in a deep slump, which began
early last year.
    Japanese Yen (Contracts of 12,500,000 yen) 
 $10.128 billion
         31 Dec 2018            Prior week
         week             
 Long             32,712            33,281
 Short           121,335           132,370
 Net             -88,623           -99,089
 
EURO (Contracts of 125,000 euros)
 $6.665 billion
         31 Dec 2018            Prior week
         week             
 Long            148,288           139,059
 Short           194,936           197,514
 Net             -46,648           -58,455
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $4.648 billion
         31 Dec 2018           Prior week
         week             
 Long             35,782           35,076
 Short            92,696           91,555
 Net             -56,914          -56,479
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $3.21 billion
         31 Dec 2018           Prior week
         week             
 Long              5,931            6,830
 Short            31,461           30,159
 Net             -25,530          -23,329
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $3.818 billion
         31 Dec 2018           Prior week
         week             
 Long             34,330           27,887
 Short            84,979           72,579
 Net             -50,649          -44,692
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $1.881 billion 
         31 Dec 2018           Prior week
         week             
 Long             27,919           22,653
 Short            54,210           53,914
 Net             -26,291          -31,261
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $-0.257 billion
         31 Dec 2018           Prior week
         week             
 Long             82,260           64,558
 Short            72,488           61,129
 Net               9,772            3,429
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $-0.134 billion 
         31 Dec 2018           Prior week
         week             
 Long             18,272           17,717
 Short            16,310           15,777
 Net               1,962            1,940
 
 (Reporting by Saqib Iqbal Ahmed; 
Editing by Sandra Maler and Jonathan Oatis)
  
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