Reuters: US Dollar Report: UPDATE 1-Speculators boost short U.S. dollar bets in week -CFTC

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UPDATE 1-Speculators boost short U.S. dollar bets in week -CFTC Dec 21st 2012, 21:05 Fri Dec 21, 2012 4:05pm EST NEW YORK, Dec 21 (Reuters) - Currency speculators increased their bets against the U.S. dollar in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position rose to $6.39 billion in the week ended Dec. 18, from a net short position of $1.03 billion the previous week. To be short a currency is to bet it will decline in value, while being long is a view its value will rise. Speculators sharply reduced short positions on the euro to 9,736 contracts from 31,623 contracts. The euro zone common currency had rallied and hit an 8-1/2-month peak against the dollar on Wednesday, lifted by upbeat economic data and optimism about Greece. Hopes of a budget deal in the United States also encouraged investors to seek riskier assets such as the euro. Bets against the yen fell after reaching a more than five-year peak. The yen had been pressured in recent weeks on expectations a new Japanese government will push the Bank of Japan into more forceful monetary easing. 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. JAPAN YEN (Contracts of 12,500,000 yen) 12/18/12 week 12/11/12 week Long 27,935 16,369 Short 117,098 110,770 Net -89,163 -94,401 EURO (Contracts of 125,000 euros) 12/18/12 week 12/11/12 week Long 69,460 51,536 Short 79,196 83,159 Net -9,736 -31,623 POUND STERLING (Contracts of 62,500 pounds sterling) 12/18/12 week 12/11/12 week Long 79,375 64,753 Short 51,339 36,799 Net 28,036 27,954 SWISS FRANC (Contracts of 125,000 Swiss francs) 12/18/12 week 12/11/12 week Long 17,361 11,243 Short 13,081 8,034 Net 4,280 3,209 CANADA DOLLAR (Contracts of 100,000 Canadian dollars) 12/18/12 week 12/11/12 week Long 81,493 74,220 Short 7,215 11,687 Net 74,278 62,533 AUSTRALIA DOLLAR (Contracts of 100,000 Aussie dollars) 12/18/12 week 12/11/12 week Long 144,966 139,540 Short 47,470 36,164 Net 97,496 103,376 MEXICO PESO (Contracts of 500,000 pesos) 12/18/12 week 12/11/12 week Long 169,413 155,296 Short 21,664 6,025 Net 147,749 149,271 NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars) 12/18/12 week 12/11/12 week Long 31,830 29,560 Short 17,600 4,960 Net 14,230 24,600 Link this Share this Digg this Email Reprints

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