Reuters: US Dollar Report: UPDATE 1-Euro net shorts soar to record high-CFTC, Reuters data

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UPDATE 1-Euro net shorts soar to record high-CFTC, Reuters data Jun 8th 2012, 20:17 Fri Jun 8, 2012 4:17pm EDT NEW YORK, June 8 (Reuters) - Bets against the euro surged to a fresh record high in the latest week, while net long U.S. dollar positions rose, according to data from the Commodity Futures Trading Commission released on Friday. Net euro shorts totaled 214,418 contracts, from net shorts of 203,415 the previous week, the data showed. To be short a currency is to bet it will decline in value, while being long is a view its value will rise. The value of the dollar's net long position as a result rose further to $39.65 billion in the week ended June 5, from $37.5l billion the previous week. 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, Canadian and Australian dollars. Other notable changes this week included the change in net positioning on the yen to a net long of 12,073 contracts from the previous week's net short of 11,330. That reflected a move toward the yen's safety as euro zone risks worsened. Also, net shorts on the Australian dollar rose further to 51,172 from the previous week's net short contracts of 35,527. Australia's central bank last Tuesday cut its main cash rate by 25 basis points to 3.5 percent, its lowest in over two years, dimming the Aussie dollar's yield appeal. JAPANESE YEN (Contracts of 12,500,000 yen) -1,916,349,206.35 6/5/12 week 5/29/12 week Long 37,376 21,620 Short 25,303 32,950 Net 12,073 -11,330 EURO (Contracts of 125,000 euros) 33,376,841,925.00 6/5/12 week 5/29/12 week Long 36,651 40,287 Short 251,069 243,702 Net -214,418 -203,415 POUND STERLING (Contracts of 62,500 pounds sterling) 275,572,456.25 6/5/12 week 5/29/12 week Long 39,042 36,052 Short 41,909 34,577 Net -2,867 1,475 SWISS FRANC (Contracts of 125,000 Swiss francs) 4,362,617,985.69 6/5/12 week 5/29/12 week Long 5,747 6,882 Short 39,395 37,478 Net -33,648 -30,596 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) -1,436,722,891.57 6/5/12 week 5/29/12 week Long 39,559 48,793 Short 24,653 14,708 Net 14,906 34,085 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) 4,984,152,800.00 6/5/12 week 5/29/12 week Long 12,579 14,788 Short 63,751 50,315 Net -51,172 -35,527 MEXICAN PESO (Contracts of 500,000 pesos) 1,069,829,649.44 6/5/12 week 5/29/12 week Long 10,998 24,872 Short 41,394 37,867 Net -30,396 -12,995 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) 418,289,200.00 6/5/12 week 5/29/12 week Long 6,575 5,798 Short 12,105 11,006 Net -5,530 -5,208 Link this Share this Digg this Email Reprints

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