December 1, 2017 / 9:47 PM / 2 years ago

UPDATE 1-Speculators raise short U.S. dollar bets to largest since late Oct -CFTC, Reuters

 (Adds comment, table, details, byline)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, Dec 1 (Reuters) - Speculators' net short dollar
bets rose to their largest in roughly more than a month,
according to calculations by Reuters and Commodity Futures
Trading Commission data released on Friday.
    The value of the net short dollar positions, derived from
net positions of International Monetary Market speculators in
the yen, euro, British pound, Swiss franc and Canadian and
Australian dollars, was $3.93 billion in the week ended Nov. 28.
    That was higher than the previous week's net short position
of $3.15 billion. 
    The dollar net shorts rose for a second straight week.
Speculators have been short the greenback for 20 straight weeks.
    In a wider measure of dollar positioning that
includes net contracts on the New Zealand dollar, Mexican peso,
Brazilian real and Russian ruble, the U.S. dollar posted a net
short position valued  at $6.213 billion this week, from $5.23
billion previously.
    The dollar ended the week on a slightly positive note, with
the index up 0.1 percent given strong U.S. economic data
this week.
    "The data largely confirmed the view that the world’s
largest economy increased momentum as it entered the final
months of 2017," said Omer Esiner, chief market analyst, at
Commonwealth FX in Washington.
    The reports also largely kept alive expectations the Federal
Reserve will likely continue to normalize U.S. monetary policy
at a steady and gradual pace, he added. 
    But gains would have been much higher this week had it not
for the ABC report saying former adviser Michael Flynn was
prepared to testify that Trump directed him to make contact with
the Russians when he was a presidential candidate.
    Amid the Flynn news, the "dollar appeared to be marking time
ahead of both the U.S. tax reform outcome and the Fed's next
pivotal meeting in mid-December," said James Chen, head of
research at in Bedminster, New Jersey.
    Yen shorts, meanwhile, declined to 110,640 contracts, the
smallest since mid-October. 

Japanese Yen (Contracts of 12,500,000 yen) 
 $12.407 billion
         Nov. 28, 2017          Prior week
 Long             39,793            44,382
 Short           150,433           166,984
 Net            -110,640          -122,602
EURO (Contracts of 125,000 euros)
 $-13.272 billion
         Nov. 28, 2017          Prior week
 Long            205,160           195,909
 Short           115,479           100,472
 Net              89,681            95,437
POUND STERLING (Contracts of 62,500 pounds sterling)
 $-0.381 billion
         Nov. 28, 2017         Prior week
 Long             66,549           58,358
 Short            61,976           58,658
 Net               4,573             -300
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $3.834 billion
         Nov. 28, 2017         Prior week
 Long             17,581           20,821
 Short            47,765           50,561
 Net             -30,184          -29,740
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-3.563 billion
         Nov. 28, 2017         Prior week
 Long             67,882           67,324
 Short            22,224           22,199
 Net              45,658           45,125
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $-2.953 billion 
         Nov. 28, 2017         Prior week
 Long             78,202           78,134
 Short            39,320           38,317
 Net              38,882           39,817
MEXICAN PESO (Contracts of 500,000 pesos)
 $-2.415 billion
         Nov. 28, 2017         Prior week
 Long            112,966          110,044
 Short            23,400           29,658
 Net              89,566           80,386
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $0.967 billion 
         Nov. 28, 2017         Prior week
 Long             23,960           22,489
 Short            37,982           35,883
 Net             -14,022          -13,394
 (Reporting by Gertrude Chavez-Dreyfuss
Editing by Marguerita Choy)
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