(Adds details, table)
By Saqib Iqbal Ahmed
NEW YORK, Jan 10 (Reuters) - Speculators cut their net long
bets on the U.S. dollar in the latest week to the smallest
position in 18 months, according to calculations by Reuters and
U.S. Commodity Futures Trading Commission data released on
Friday.
The value of the net long dollar position was $9.07 billion
in the week ended Jan. 7, down from $14.82 billion last week.
This week's long U.S. dollar position is the smallest since the
third week of June 2018.
To be long a currency means traders believe it will rise in
value, while being short points to a bearish bias. U.S. dollar
positioning was derived from net contracts of International
Monetary Market speculators in the Japanese yen, euro, British
pound, Swiss franc and Canadian and Australian dollars.
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
long position valued at $4.33 billion, down from $10.98 billion
a week earlier.
On Friday, the dollar fell from four-week highs against the
safe-haven yen and slid versus the Swiss franc as investors
fretted over possible renewed geopolitical tensions between the
United States and Iran.
A softer U.S. December employment report also dented the
dollar.
The recent thaw in trade-related tensions between the United
States and China has sapped demand for the safe-haven U.S.
currency.
Speculators boosted their long position in sterling to
16,510 contracts, up from 12,393 contracts in the previous week.
The pound edged lower on Friday, holding near two-week lows
against the dollar as a second policymaker joined Bank of
England governor Mark Carney in signaling a potential rate cut.
Japanese Yen (Contracts of 12,500,000 yen)
$1.412 billion
07 Jan 2020 Prior week
week
Long 47,846 43,668
Short 60,094 68,970
Net -12,248 -25,302
EURO (Contracts of 125,000 euros)
$8.595 billion
07 Jan 2020 Prior week
week
Long 164,813 168,852
Short 226,477 243,197
Net -61,664 -74,345
POUND STERLING (Contracts of 62,500 pounds sterling)
$-1.354 billion
07 Jan 2020 Prior week
week
Long 67,403 64,574
Short 50,893 52,181
Net 16,510 12,393
SWISS FRANC (Contracts of 125,000 Swiss francs)
$0.576 billion
07 Jan 2020 Prior week
week
Long 11,298 14,549
Short 15,767 20,274
Net -4,469 -5,725
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
$-2.028 billion
07 Jan 2020 Prior week
week
Long 68,756 63,961
Short 42,389 52,048
Net 26,367 11,913
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
$1.871 billion
07 Jan 2020 Prior week
week
Long 52,063 49,430
Short 79,312 87,769
Net -27,249 -38,339
MEXICAN PESO (Contracts of 500,000 pesos)
$-4.162 billion
07 Jan 2020 Prior week
week
Long 203,580 193,069
Short 46,262 42,803
Net 157,318 150,266
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
$0.099 billion
07 Jan 2020 Prior week
week
Long 27,369 23,893
Short 28,857 28,951
Net -1,488 -5,058
(Reporting by Saqib Iqbal Ahmed;
Editing by Sandra Maler)
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