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UPDATE 1-Speculators up U.S. dollar net short bets to highest in five years-CFTC, Reuters
September 29, 2017 / 8:43 PM / 2 months ago

UPDATE 1-Speculators up U.S. dollar net short bets to highest in five years-CFTC, Reuters

 (Adds table, details, analyst comment, byline)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, Sept 29 (Reuters) - Speculators' net short bets on
the U.S. dollar rose to their largest since late September 2012,
according to calculations by Reuters and Commodity Futures
Trading Commission data released on Friday.
    The value of the dollar's net short position was $17.36
billion in the week to Sept. 29, up from net shorts of $13.19
billion the previous week. Speculators have been net short the
dollar for 11 straight weeks.
    The dollar's net positioning was derived from net futures
contracts of International Monetary Market speculators in the
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
short position valued at $21.13 billion, up from $16.65 billion
a week earlier.
    The dollar overall has been rebounding from multi-year lows
since early September, and has extended that recovery after more
hawkish signals from the Federal Reserve during its last
monetary policy meeting that raised prospects for a rate
increase in December.
    The greenback has also been supported by new plans regarding
U.S. tax reform from the White House, analysts said.
    But James Chen, head of research at Forex.com in Bedminster,
New Jersey noted that Fed Chair Janet Yellen has lately given
some mixed signals. 
    This week, Yellen said the Fed may have "misspecified" its
models for inflation, and "misjudged" key facts such as the
underlying strength of the labor market and whether inflation
expectations are as stable as they seem, and central bankers
need to remain open to that possibility as they decide on
policy.
    That said, Forex.com's Chen pointed out that expectations of
a December rate increase remain high for now, and the U.S.
dollar has remained supported in its recovery. 
    
Japanese Yen (Contracts of 12,500,000 yen) 
$7.947 billion
         26 Sep 2017            Prior week
         week             
 Long             42,963            42,435
 Short           114,310            93,757
 Net             -71,347           -51,322
 
EURO (Contracts of 125,000 euros)
$-12.995 billion
         26 Sep 2017            Prior week
         week             
 Long            183,679           190,025
 Short            95,512           127,272
 Net              88,167            62,753
 
POUND STERLING (Contracts of 62,500 pounds sterling)
$-0.425 billion
         26 Sep 2017           Prior week
         week             
 Long             80,145           76,556
 Short            75,091           86,717
 Net               5,054          -10,161
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
$0.24 billion
         26 Sep 2017           Prior week
         week             
 Long             14,926           13,387
 Short            16,788           14,956
 Net              -1,862           -1,569
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
$-6.043 billion
         26 Sep 2017           Prior week
         week             
 Long            102,688          100,675
 Short            28,083           41,829
 Net              74,605           58,846
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
$-6.088 billion 
         26 Sep 2017           Prior week
         week             
 Long            103,507          102,990
 Short            26,313           30,478
 Net              77,194           72,512
 
MEXICAN PESO (Contracts of 500,000 pesos)
$-2.332 billion
         26 Sep 2017           Prior week
         week             
 Long            134,621          136,338
 Short            50,894           59,386
 Net              83,727           76,952
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
$-0.58 billion 
         26 Sep 2017           Prior week
         week             
 Long             22,369           23,248
 Short            14,316           16,578
 Net               8,053            6,670
 
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Diane Craft
and Susan Thomas)
  

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