Reuters: US Dollar Report: UPDATE 1-Bets against US dollar at highest since Aug 2011-CFTC

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UPDATE 1-Bets against US dollar at highest since Aug 2011-CFTC Sep 28th 2012, 20:21 Fri Sep 28, 2012 4:21pm EDT NEW YORK, Sept 28 (Reuters) - Currency speculators boosted bets against the U.S. dollar in the latest week to the highest in more than a year, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position rose to $17.96 billion in the week ended Sept. 25 from a net short of $10.05 billion the previous week. That was the largest negative dollar bet since early August last year and was the third straight weekly net short position for the greenback. To be short a currency is to bet it will decline 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, sterling, Swiss franc, Canadian and Australian dollars. Investors have dumped the greenback as the Federal Reserve vowed to embark on another round stimulus for the slumping U.S. economy. That entailed flooding the financial system with dollars and depressing the currency's value. The dollar index has fallen 1.6 percent so far this month, a period in which the European Central Bank also announced a bond-buying plan to lower borrowing costs for troubled euro zone nations such as Spain and Italy. That has helped improve sentiment on the euro, which so far in September has advanced 2.2 percent. As a result, net euro short positions continued to contract to 50,238 contracts this week from 73,482 the previous week. That's a far cry from record euro shorts of more than 170,000 contracts in January this year. The CFTC report also showed increased risk appetite as net longs in the Australian and Canadian dollars, as well as sterling expanded. JAPAN YEN (Contracts of 12,500,000 yen) -3,392,306,209.02 9/25/12 week 9/18/12 week Long 47,318 41,500 Short 26,207 26,024 Net 21,111 15,476 EURO (Contracts of 125,000 euros) 8,099,621,550.00 9/25/12 week 9/18/12 week Long 53,345 48,817 Short 103,583 122,299 Net -50,238 -73,482 POUND STERLING (Contracts of 62,500 pounds sterling) -2,745,246,762.50 9/25/12 week 9/18/12 week Long 60,809 52,597 Short 33,672 38,185 Net 27,137 14,412 SWISS FRANC (Contracts of 125,000 Swiss francs) 120,559,052.60 9/25/12 week 9/18/12 week Long 13,567 13,626 Short 14,471 18,153 Net -904 -4,527 CANADA DOLLAR (Contracts of 100,000 Canadian dollars) -10,745,206,038.35 9/25/12 week 9/18/12 week Long 123,643 126,688 Short 18,297 14,807 Net 105,346 111,881 AUSTRALIA DOLLAR (Contracts of 100,000 Aussie dollars) -9,301,013,700.00 9/25/12 week 9/18/12 week Long 119,144 117,009 Short 29,582 47,763 Net 89,562 69,246 MEXICO PESO (Contracts of 500,000 pesos) -5,493,136,301.77 9/25/12 week 9/18/12 week Long 147,245 140,375 Short 5,989 22,228 Net 141,256 118,147 NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars) -1,638,727,200.00 9/25/12 week 9/18/12 week Long 23,389 20,402 Short 3,424 3,797 Net 19,965 16,605 Link this Share this Digg this Email Reprints

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