January 10, 2020 / 9:09 PM / a month ago

UPDATE 1-Speculators slash bullish bets on U.S. dollar to 18-month low -CFTC, Reuters

 (Adds details, table)
    By Saqib Iqbal Ahmed
    NEW YORK, Jan 10 (Reuters) - Speculators cut their net long
bets on the U.S. dollar in the latest week to the smallest
position in 18 months, according to calculations by Reuters and
U.S. Commodity Futures Trading Commission data released on
Friday.
    The value of the net long dollar position was $9.07 billion
in the week ended Jan. 7, down from $14.82 billion last week.
This week's long U.S. dollar position is the smallest since the
third week of June 2018.
    To be long 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 Japanese yen, euro, British
pound, Swiss franc and Canadian and Australian dollars.
    In a wider 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 valued at $4.33 billion, down from $10.98 billion
a week earlier.
    On Friday, the dollar fell from four-week highs against the
safe-haven yen and slid versus the Swiss franc as investors
fretted over possible renewed geopolitical tensions between the
United States and Iran.
    A softer U.S. December employment report also dented the
dollar.
    The recent thaw in trade-related tensions between the United
States and China has sapped demand for the safe-haven U.S.
currency.
    Speculators boosted their long position in sterling to
16,510 contracts, up from 12,393 contracts in the previous week.
    The pound edged lower on Friday, holding near two-week lows
against the dollar as a second policymaker joined Bank of
England governor Mark Carney in signaling a potential rate cut.

    
    Japanese Yen (Contracts of 12,500,000 yen) 
 $1.412 billion
         07 Jan 2020            Prior week
         week             
 Long             47,846            43,668
 Short            60,094            68,970
 Net             -12,248           -25,302
 
EURO (Contracts of 125,000 euros)
 $8.595 billion
         07 Jan 2020            Prior week
         week             
 Long            164,813           168,852
 Short           226,477           243,197
 Net             -61,664           -74,345
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $-1.354 billion
         07 Jan 2020           Prior week
         week             
 Long             67,403           64,574
 Short            50,893           52,181
 Net              16,510           12,393
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $0.576 billion
         07 Jan 2020           Prior week
         week             
 Long             11,298           14,549
 Short            15,767           20,274
 Net              -4,469           -5,725
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-2.028 billion
         07 Jan 2020           Prior week
         week             
 Long             68,756           63,961
 Short            42,389           52,048
 Net              26,367           11,913
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $1.871 billion 
         07 Jan 2020           Prior week
         week             
 Long             52,063           49,430
 Short            79,312           87,769
 Net             -27,249          -38,339
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $-4.162 billion
         07 Jan 2020           Prior week
         week             
 Long            203,580          193,069
 Short            46,262           42,803
 Net             157,318          150,266
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $0.099 billion 
         07 Jan 2020           Prior week
         week             
 Long             27,369           23,893
 Short            28,857           28,951
 Net              -1,488           -5,058
      

    

 (Reporting by Saqib Iqbal Ahmed; 
Editing by Sandra Maler)
  
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