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UPDATE 1-U.S. dollar net shorts fall to lowest since Aug 1 -CFTC, Reuters
October 27, 2017 / 8:51 PM / 24 days ago

UPDATE 1-U.S. dollar net shorts fall to lowest since Aug 1 -CFTC, Reuters

 (Adds analyst comments, byline, details, table)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, Oct 27 (Reuters) - Speculators' net short bets on
the U.S. dollar fell to their smallest in nearly three months,
according to calculations by Reuters and Commodity Futures
Trading Commission data released on Friday.
    The value of the dollar's net short position was $8.02
billion in the week ended Oct. 24, down from net shorts of
$12.65 billion the previous week. Investors have pared back net
short bets on the dollar for four straight weeks.
    Generally positive U.S. data over the past month as well as
hawkish rhetoric from the Federal Reserve that boosted
expectations for a rate hike in December have boosted the
dollar.
    The dollar on Friday rose to a three-month high, although on
the year so far, it was still down 7 percent.
    "Between the introduction of the tax bill on Nov. 1 and the
prospect of a Fed chair announcement before Trump takes off to
Asia on Nov. 3, we believe next week will be another good week
for the U.S. dollar," said Kathy Lien, managing director of FX
strategy at BK Asset Management in New York.
    The dollar's net positioning was derived from net futures
contracts of International Monetary Market speculators in the
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
short position valued at $10.72 billion, down from $16.33
billion the previous week.
    Yen shorts, meanwhile, rose to their largest since July.   
The Japanese currency has been hampered by persistently low
inflation. 
    "(Japan) has a ton of different ways of measuring inflation,
and all of them show basically the same story: no inflation
after some 20 years of near-zero interest rates," said Marshall
Glitter, chief strategist, at ACLS Global. 
    The yen though was still up nearly 3 percent against the
dollar.  
    
 Japanese Yen (Contracts of 12,500,000 yen) 
 $12.826 billion
         24 Oct 2017            Prior week
         week             
 Long             60,077            55,010
 Short           176,934           156,296
 Net            -116,857          -101,286
 
EURO (Contracts of 125,000 euros)
 $-12.274 billion
         24 Oct 2017            Prior week
         week             
 Long            183,539           186,751
 Short           100,035            96,299
 Net              83,504            90,452
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $0.122 billion
         24 Oct 2017           Prior week
         week             
 Long             66,162           72,871
 Short            67,647           67,824
 Net              -1,485            5,047
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $1.463 billion
         24 Oct 2017           Prior week
         week             
 Long             22,539           22,174
 Short            34,136           27,105
 Net             -11,597           -4,931
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-5.708 billion
         24 Oct 2017           Prior week
         week             
 Long             96,561           94,507
 Short            24,229           19,421
 Net              72,332           75,086
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $-4.451 billion 
         24 Oct 2017           Prior week
         week             
 Long             85,819           85,763
 Short            28,569           23,963
 Net              57,250           61,800
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $-1.449 billion
         24 Oct 2017           Prior week
         week             
 Long             87,536           98,936
 Short            31,835           27,869
 Net              55,701           71,067
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $-0.042 billion 
         24 Oct 2017           Prior week
         week             
 Long             20,549           20,423
 Short            19,938           13,446
 Net                 611            6,977
 
 (Reporting by Gertrude Chavez-Dreyfuss; editing by Susan
Thomas)
  

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