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UPDATE 1-Speculators cut net U.S. dollar longs in latest week-CFTC, Reuters

(Adds table, details on dollar and euro contracts)
    Dec 11 (Reuters) - Speculators reduced bullish bets on the
U.S. dollar in the latest week, according to Reuters
calculations and data from the Commodity Futures Trading
Commission released on Friday.
    The value of the dollar's net long position slipped to
$41.22 billion in the week ended Dec. 8, from $43.47 billion the
previous week. Speculators have trimmed their net long position
on the dollar for a second straight week.
    The U.S. dollar index has risen more than 8.0 percent so far
in 2015, boosted all year by expectations that the Federal
Reserve would be the first major central bank to raise interest
rates this year.
    In fact, markets have fully priced in a lift-off next week,
and the only issue being debated is the number of rate increases
over the next few years.
    In other contracts, speculators cut their short position on
the euro, with 172,331 contracts, from 182,845. 
    The decline was expected especially in the wake of the
European Central Bank's stimulus package announced last week
that came in below market expectations. The ECB decision had
resulted in a big jump in the euro, rising as much as 3.0
percent, on the day of the announcement last Thursday.
    On the year though, the euro was down more than 9.0 percent 
against the dollar. Many in the market had predicted that the
euro will slide to parity against the dollar because of the
divergence in monetary policy between the Fed and the ECB. 
    However, parity between the euro and the dollar has yet to
happen.
    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) 
 $6.921 billion
         08 Dec 2015            Prior week
         week             
 Long             26,400            31,228
 Short            94,450           106,129
 Net             -68,050           -74,901
 
EURO (Contracts of 125,000 euros)
$23.465 billion
         08 Dec 2015            Prior week
         week             
 Long             80,378            78,782
 Short           252,709           261,627
 Net            -172,331          -182,845
 
POUND STERLING (Contracts of 62,500 pounds sterling)
$2.242 billion
         08 Dec 2015           Prior week
         week             
 Long             41,633           38,403
 Short            65,535           66,661
 Net             -23,902          -28,258
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
$3.219 billion
         08 Dec 2015           Prior week
         week             
 Long             11,538           18,313
 Short            37,078           43,102
 Net             -25,540          -24,789
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
$2.955 billion
         08 Dec 2015           Prior week
         week             
 Long             48,776           38,349
 Short            88,914           77,329
 Net             -40,138          -38,980
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
$2.422 billion 
         08 Dec 2015           Prior week
         week             
 Long             47,696           48,063
 Short            81,275           94,711
 Net             -33,579          -46,648
 
MEXICAN PESO (Contracts of 500,000 pesos)
$0.716 billion
         08 Dec 2015           Prior week
         week             
 Long             45,226           48,974
 Short            69,607           74,439
 Net             -24,381          -25,465
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
$-0.59 billion 
         08 Dec 2015           Prior week
         week             
 Long             24,452           22,881
 Short            15,571           18,124
 Net               8,881            4,757
 
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Diane Craft)
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