December 16, 2016 / 9:43 PM / 3 years ago

UPDATE 1-U.S. dollar net longs steady; yen shorts rise -CFTC, Reuters data

(Adds details, comment, table, byline)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, Dec 16 (Reuters) - U.S. dollar net long positions
were little changed this week, affirming a trend in place for
the last several weeks since the election of Donald Trump as
U.S. president.
    The value of the dollar's net long position was $28.01
billion in the week ended Dec. 13, marginally down from $28.14
billion the previous week, according to Reuters calculations and
data from the Commodity Futures Trading Commission released on
    Kathy Lien, managing director of FX strategy at BK Asset
Management, said investors were taking profits on their long
dollar position.
    "Being a dollar bull has paid off handsomely over the past
two months with the greenback rising 15 percent against the
Japanese yen and more than 7.5 percent against the euro," said
    "Both the speed and velocity of the move has been incredible
and when such abrupt fluctuations occur, it is natural to expect
    She still believes the dollar is a buy on dips, unless U.S.
data, Federal Reserve comments, and U.S. interest rates suggest
    Net shorts on the yen rose to their largest since early
December last year, at 63,429 contracts.
    Data such as Japan's Tankan report on the economy has been
weaker than expected, prompting a sell-off in the yen. But
declines in the yen should prove supportive of a Japanese
economy dependent on exports.
    The Bank of Japan's monetary policy decision next week could
lead to a modest rebound for the yen against the dollar,
especially if no changes are made, as expected, said James Chen,
head of research at in Bedminster, New Jersey.
    For the most part though, dollar/yen remains on an
upward path. The next major upside targets for the currency pair
are the 120.00 yen level followed by the key 122.00 resistance.
    Sterling net short contracts, meanwhile, continued
their decline, falling to 72,343, their smallest since the third
week of September. 
    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) 
 $6.885 billion
         Dec. 13, 2016          Prior week
 Long             62,432            74,367
 Short           125,861           108,304
 Net             -63,429           -33,937
EURO (Contracts of 125,000 euros)
 $11.623 billion
         Dec. 13, 2016          Prior week
 Long            123,597           123,390
 Short           211,110           237,946
 Net             -87,513          -114,556
POUND STERLING (Contracts of 62,500 pounds sterling)
 $5.722 billion
         Dec. 13, 2016         Prior week
 Long             40,515           43,169
 Short           112,858          120,407
 Net             -72,343          -77,238
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $3.124 billion
         Dec. 13, 2016         Prior week
 Long              5,600            9,859
 Short            30,888           35,256
 Net             -25,288          -25,397
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $1.666 billion
         Dec. 13, 2016         Prior week
 Long             24,035           21,538
 Short            45,904           39,696
 Net             -21,869          -18,158
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $-1.01 billion 
         Dec. 13, 2016         Prior week
 Long             40,290           48,274
 Short            26,817           27,403
 Net              13,473           20,871
MEXICAN PESO (Contracts of 500,000 pesos)
 $1.422 billion
         Dec. 13, 2016         Prior week
 Long             19,001           18,619
 Short            76,660           72,685
 Net             -57,659          -54,066
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $0.267 billion 
         Dec. 13, 2016         Prior week
 Long             29,402           27,641
 Short            33,104           31,593
 Net              -3,702           -3,952
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by James
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below