Speculators pare US dollar bets to lowest in 5 weeks -CFTC, Reuters

Tue Jul 8, 2014 12:09pm EDT

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July 8 (Reuters) - Currency speculators further reduced
their bets in favor of the U.S. dollar in the latest week to
their lowest in more than a month, according to data from the
Commodity Futures Trading Commission released on Monday. 
    The value of the dollar's net long position fell to $8.65
billion in the week ended July 1, from $11.34 billion the
previous week. Speculators have trimmed their net long dollar
position for a third straight week, to their lowest since the
week of May 27, according to Reuters data.
    To be long a currency is a view it will rise, while being
short is a bet its value will decline.
    The week also saw a further build-up in euro short positions
to 60,776 contracts from 57,503 previously. Investors grew
cautious about a strong euro that could fuel discomfort among
European monetary officials trying to boost the region's export
sector.
    Speculators also raised their longs on sterling to 56,412
contracts last week from 49,751. That was the largest net long
on the pound in 6-1/2 years. The Bank of England is still
expected to be one of the first major central banks to raise
interest rates.
    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, and
Canadian and Australian dollars.
    
Japanese Yen (Contracts of 12,500,000 yen) 
         01Jul2014 week         Prior week
 Long             18,739            10,325
 Short            77,425            81,548
 Net             -58,686           -71,223
 
EURO (Contracts of 125,000 euros)
         01Jul2014 week         Prior week
 Long             52,665            55,062
 Short           113,441           112,565
 Net             -60,776           -57,503
 
POUND STERLING (Contracts of 62,500 pounds sterling)
         01Jul2014 week        Prior week
 Long             99,929           98,098
 Short            43,517           48,347
 Net              56,412           49,751
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
         01Jul2014 week        Prior week
 Long              9,731            9,069
 Short            16,991           14,441
 Net              -7,260           -5,372
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
         01Jul2014 week        Prior week
 Long             44,755           40,595
 Short            42,060           45,915
 Net               2,695           -5,320
 
 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
         01Jul2014 week        Prior week
 Long             76,598           65,612
 Short            37,719           32,149
 Net              38,879           33,463
 
MEXICAN PESO (Contracts of 500,000 pesos)
         01Jul2014 week        Prior week
 Long             85,387           84,943
 Short            15,825           15,974
 Net              69,562           68,969
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
         01Jul2014 week        Prior week
 Long             26,563           24,855
 Short            17,578           18,703
 Net               8,985            6,152
 
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by James
Dalgleish)
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