Friday, August 31, 2012

Reuters: US Dollar Report: UPDATE 1-Specs turn short US dollar, 1st time in nearly a year

Reuters: US Dollar Report
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UPDATE 1-Specs turn short US dollar, 1st time in nearly a year
Aug 31st 2012, 20:14

Fri Aug 31, 2012 4:14pm EDT

  NEW YORK, Aug 31 (Reuters) - Currency speculators turned negative on the  U.S. dollar in the latest week for the first time in nearly a year, according to  data from the Commodity Futures Trading Commission released on Friday.      The value of the U.S. dollar's short position totaled $441.7 million from a  net long position of position of $4.57 billion the previous week. It's the first  net short position on the dollar since the week of Sept. 6, 2011.      To be short a currency is to bet it will fall in value, while being long is  a view its value will rise.        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 and Canadian and Australian dollars.      Euro net shorts further declined to 101,561 contracts this week,  while net longs on the yen rose to 21,556 contracts.      Euro sentiment has improved markedly the last few weeks on expectations of  further peripheral bond buying by the European Central Bank in efforts to keep  interest rates in debt-plagued countries lower.       The euro zone's common currency ended the month of August on a positive  note, notching gains of 2.3 percent after losses of 2.8 percent the previous  month.      The U.S. dollar index, on the other hand, closed this month down 1.7  percent following gains of 1.2 percent in July.      Further weighing on the U.S. dollar was an increase in net longs on the  Canadian dollar to 60,936 contracts and a decline in short bets on the  Swiss franc to 11,461 contracts.           JAPAN YEN (Contracts of 12,500,000 yen)  -3,432,484,076.43               8/28/12 week         8/21/12 week     Long          53,571               43,584     Short         32,015               32,413     Net           21,556               11,171         EURO (Contracts of 125,000 euros)  15,950,155,050.00               8/28/12 week         8/21/12 week     Long          45,927               45,986     Short        147,488              169,918     Net         -101,561             -123,932         POUND STERLING (Contracts of 62,500 pounds sterling)  -194,536,800.00               8/28/12 week         8/21/12 week     Long          42,407               45,984     Short         40,439               38,151     Net            1,968                7,833       SWISS FRANC (Contracts of 125,000 Swiss francs)  1,499,188,991.21               8/28/12 week         8/21/12 week     Long          10,684                5,921     Short         22,145               21,583     Net          -11,461              -15,662       CANADA DOLLAR (Contracts of 100,000 Canadian dollars)  -6,166,363,084.40               8/28/12 week         8/21/12 week     Long          86,639               76,008     Short         25,703               25,141     Net           60,936               50,867       AUSTRALIA DOLLAR (Contracts of 100,000 Aussie dollars)  -8,097,627,840.00               8/28/12 week         8/21/12 week     Long         124,137              127,500     Short         46,065               40,618     Net           78,072               86,882       MEXICO PESO (Contracts of 500,000 pesos)  -3,588,668,082.52               8/28/12 week         8/21/12 week     Long         104,239              107,140     Short          9,613                9,159     Net           94,626               97,981      NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars) -1,144,438,470.00               8/28/12 week         8/21/12 week     Long          18,215               19,835     Short          3,986                3,463     Net           14,229               16,372  
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