IMM-Speculators raise short U.S. dollar position-CFTC

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Fri Oct 9, 2009 4:11pm EDT 

 NEW YORK, Oct 9 (Reuters) - Currency speculators raised
their bets against the dollar in the latest week, according to
Commodity Futures Trading Commission data released on Friday.
 The value of the dollar's net short position rose to $20.2
billion in the week ended Oct. 6, from a $16.66 billion net
short position the prior week.
 The change in the net short dollar position was driven
mainly by speculators' increased bets against sterling and an
increase in long Canadian and euro positions.
 Net bets in favor of the Canadian dollar rose to 35,775
contracts from 18,209 contracts the prior week with open
interest rising by 17,120 contracts to 88,135.
 Rising open interest is sometimes viewed as a sign of
increasing volatility.
 Net bets in favor of the euro rose to 51,045 contracts from
39,766 contracts in the prior week with a corresponding rise in
open interest of 5,965 contracts to 170,878.
 But bets against sterling rose to 62,106 contracts from
47,826 contracts the prior week with open interest rising
13,258 contracts to 111,463.
 To be short a currency is to bet it will decrease in value,
while being long a currency is a bet that will appreciate.
 The aggregate U.S. dollar position is derived from the net
positions of International Monetary Market speculators in the
yen, euro, British pound, Swiss franc, Canadian and Australian
dollars.
 JAPANESE YEN (Contracts of 12,500,000 yen)
          10/06/09 week         9/29/09 week
Long          62,127               63,449
Short         17,484               18,593
Net           44,643               44,856
 EURO (Contracts of 125,000 euros)
          10/06/09 week         9/29/09 week
Long          86,229               77,852
Short         35,184               38,086
Net           51,045               39,766
 POUND STERLING (Contracts of 62,500 pounds sterling)
          10/06/09 week         9/29/09 week
Long          12,636               16,129
Short         74,742               63,955
Net          -62,106              -47,826
 SWISS FRANC (Contracts of 125,000 Swiss francs)
          10/06/09 week         9/29/09 week
Long          28,261               22,857
Short          4,791                5,264
Net           23,470               17,593
 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
          10/06/09 week         9/29/09 week
Long          41,391               23,843
Short          5,616                5,634
Net           35,775               18,209
 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
          10/06/09 week         9/29/09 week
Long          58,029               55,700
Short          7,864                8,002
Net           50,165               47,698
 MEXICAN PESO (Contracts of 500,000 pesos)
          10/06/09 week         9/29/09 week
Long          25,032               25,928
Short         45,585               36,787
Net          -20,553              -10,859
  NEW ZEALAND DOLLAR(Contracts of 100,000 New Zealand dollars)
          10/06/09 week         9/29/09 week
Long          19,606               19,045
Short          1,513                1,542
Net           18,093               17,503
 (Reporting by Nick Olivari; Editing by Andrew Hay)
Currencies
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