October 6, 2017 / 8:26 PM / a year ago

UPDATE 1-Speculators cut bearish bets on dollar from 5-year high, remain short - CFTC, Reuters

 (Adds data, quote, table)
    By Dion Rabouin
    Oct 6 (Reuters) - Speculators cut their bearish bets on the
U.S. dollar from the previous week, which showed the highest
level in net-short contracts in five years, but held their
negative bias for the U.S. currency.
    The value of the dollar's net short position was $16.83
billion in the week ended Oct. 3, leaving investors net short on
the greenback for the 12th straight week, according to data from
the Commodity Futures Trading Commission released Friday.
    Net short bets on the dollar had grown to $17.36 billion for
the week ended Sept. 26, the highest since late September 2012.
    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 $21.01 billion, down slightly from
$21.13 billion a week earlier.    
    The dollar had its best week of the year against a gauge of
six rival currencies last week after more hawkish signals
from the Federal Reserve during its monetary policy meeting,
which raised prospects for an increase of U.S. interest rates by
    A larger move could come next week in Europe as Spain
wrestles with an independence vote from Catalonia. Carles
Puigdemont, Catalonia’s separatist leader, is set to appear
before lawmakers on Tuesday.
    "Although it’s calmed down in the past day or two, the big
event that’s going on right now is put on hold until debate
(next week)," said Joseph Trevisani, chief market strategist at
WorldWide Markets in Woodcliff Lake, New Jersey.
    "The currency markets are telling you that they’re not going
to (secede). If everyone was convinced they were going to do it,
euro would be at $1.12."
    The euro closed Tuesday at $1.1742 and was last at $1.1731
on Friday.
    The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
speculators in the yen, euro, British pound, Swiss franc and
Canadian and Australian dollars.
Japanese Yen (Contracts of 12,500,000 yen) 
 $7.947 billion
         03 Oct 2017            Prior week
 Long             58,770            42,963
 Short           143,413           114,310
 Net             -84,643           -71,347
EURO (Contracts of 125,000 euros)
 $-12.995 billion
         03 Oct 2017            Prior week
 Long            187,053           183,679
 Short            96,220            95,512
 Net              90,833            88,167
POUND STERLING (Contracts of 62,500 pounds sterling)
 $-0.425 billion
         03 Oct 2017           Prior week
 Long             80,325           80,145
 Short            60,376           75,091
 Net              19,949            5,054
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $0.24 billion
         03 Oct 2017           Prior week
 Long             17,614           14,926
 Short            20,907           16,788
 Net              -3,293           -1,862
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-6.043 billion
         03 Oct 2017           Prior week
 Long             97,204          102,688
 Short            22,076           28,083
 Net              75,128           74,605
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $-6.088 billion 
         03 Oct 2017           Prior week
 Long             98,499          103,507
 Short            26,687           26,313
 Net              71,812           77,194
MEXICAN PESO (Contracts of 500,000 pesos)
 $-2.332 billion
         03 Oct 2017           Prior week
 Long            117,452          134,621
 Short            28,336           50,894
 Net              89,116           83,727
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $-0.58 billion 
         03 Oct 2017           Prior week
 Long             20,928           22,369
 Short            12,810           14,316
 Net               8,118            8,053
 (Reporting by Dion Rabouin in New York; Editing by Lisa
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