May 13, 2016 / 8:40 PM / 3 years ago

UPDATE 1-Speculators pare net short U.S. dollar bets this week-CFTC, Reuters

(Adds table, details on dollar, euro contracts)
    May 13 (Reuters) - Speculators reduced bets against the
dollar for the first time in four weeks, as a recent batch of
improving U.S. economic data has boosted expectations the
Federal Reserve could hike interest rates more than once this
year.
    The value of the dollar's net short position fell to $6.19
billion in the week ended May 10 from $6.46 billion the previous
week, according to Reuters calculations and data from the
Commodity Futures Trading Commission released on Friday.
    Before this week's small decline in the dollar's net short
position, sentiment on the currency had steadily declined since
late December when it became evident the Fed would be cautious
in raising interest rates. The U.S. central bank was worried
about China's stock market and generally unimpressive U.S.
economic data for the first quarter.
    But things seem to have turned with China's equity market on
the mend and a better set of U.S. economic numbers the last two
weeks, leading to a rally in the dollar. The U.S. currency has
rallied about three percent against a basket of currencies in
the last 10 days and for the month of May, the dollar was
actually up 1.7 percent. 
    Meanwhile, net euro short contracts continued to decrease to
21,872 contracts from a 23,619 short position the previous week.
This week's net short contract in the euro was the smallest
since June 2014.
    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) 
         10 May 2016            Prior week
         week             
 Long             88,897            85,627
 Short            29,850            24,106
 Net              59,047            61,521
 
EURO (Contracts of 125,000 euros)
         10 May 2016            Prior week
         week             
 Long            101,277           113,034
 Short           123,149           136,653
 Net             -21,872           -23,619
 
POUND STERLING (Contracts of 62,500 pounds sterling)
         10 May 2016           Prior week
         week             
 Long             37,628           46,105
 Short            72,563           86,513
 Net             -34,935          -40,408
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
         10 May 2016           Prior week
         week             
 Long             22,674           21,297
 Short            15,757           14,468
 Net               6,917            6,829
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
         10 May 2016           Prior week
         week             
 Long             42,040           39,840
 Short            16,166           20,897
 Net              25,874           18,943
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
         10 May 2016           Prior week
         week             
 Long             82,774           99,024
 Short            44,616           46,629
 Net              38,158           52,395
 
MEXICAN PESO (Contracts of 500,000 pesos)
         10 May 2016           Prior week
         week             
 Long             16,149           35,753
 Short            61,369           48,173
 Net             -45,220          -12,420
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
         10 May 2016           Prior week
         week             
 Long             33,573           25,306
 Short            24,221           16,106
 Net               9,352            9,200
 

 (Reporting by Gertrude Chavez-Dreyfuss; Editing by James
Dalgleish and Chris Reese)
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