February 19, 2016 / 9:52 PM / 4 years ago

UPDATE 1-U.S. dollar longs fall again, lowest since May 2014-CFTC, Reuters

By Dion Rabouin
    Feb 19 (Reuters) - Bullish bets on the U.S. dollar retreated
for an eighth consecutive week, with net longs falling to their
lowest level since May 2014, according to Reuters calculations
and data from the Commodity Futures Trading Commission released
on Friday.
    The global value of the dollar's net long position plunged
to $8.31 billion in the week ended Feb. 16, from $12.60 billion
in the previous week. Net dollar longs came in below $20 billion
for a third straight week.
    While investors continued to move out of the U.S. currency,
largely increasing long bets on the Japanese yen, the dollar
index managed to post its best weekly performance in about two
months. 
    The dollar index measures the greenback against six major
world currencies.
    Net long bets on the yen increased by nearly 4,700
contracts, rising from 43,232 to 47,901 on the week, as oil
prices again moved lower and investors sought out the safe-haven
currency.
    The yen has risen nearly 7 percent against the dollar so far
in February and a little more than 6.5 percent in 2016. 
    The volatility in markets also bolstered bets on the euro as
investors unwound carry trades made using the continental
currency. 
    Net shorts in the euro fell, hitting their lowest since June
2014.
    ECB Vice President Vitor Constancio said at a Reuters
Newsmaker event on Friday that the central bank has not yet
committed to any decision for its next meeting on March 10, but
might act if it determines a recovery in inflation is getting
pushed back further into the future.
    The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
Market speculators in the yen, euro, British pound, Swiss franc
and Canadian and Australian dollars.
    
    
Japan Yen (Contracts of 12,500,000 yen) 
 $-4.738 billion
         Feb. 16, 2016 week        Prior week
 Long                84,518            75,811
 Short               36,617            32,579
 Net                 47,901            43,232
 
EURO (Contracts of 125,000 euros)
 $8.817 billion
         Feb. 16, 2016 week        Prior week
 Long               113,970           114,607
 Short              162,175           177,921
 Net                -48,205           -63,314
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $3.245 billion
         Feb. 16, 2016 week       Prior week
 Long                36,512           31,025
 Short               72,767           67,325
 Net                -36,255          -36,300
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $0.92 billion
         Feb. 16, 2016 week       Prior week
 Long                20,141           20,356
 Short               24,507           27,624
 Net                 -4,366           -7,268
 
CANADA DOLLAR (Contracts of 100,000 Canadian dollars)
 $3.747 billion
         Feb. 16, 2016 week       Prior week
 Long                29,077           27,279
 Short               74,162           79,214
 Net                -45,085          -51,935
 
AUSTRALIA DOLLAR (Contracts of 100,000 Aussie dollars)
 $0.4 billion 
         Feb. 16, 2016 week       Prior week
 Long                66,740           64,020
 Short               63,933           69,646
 Net                  2,807           -5,626
 
MEXICO PESO (Contracts of 500,000 pesos)
 $1.232 billion
         Feb. 16, 2016 week       Prior week
 Long                21,445           41,732
 Short               98,830           88,254
 Net                -77,385          -46,522
 
NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars)
 $0.601 billion 
         Feb. 16, 2016 week       Prior week
 Long                14,465           13,666
 Short               22,782           22,805
 Net                 -8,317           -9,139
     

 (Reporting by Dion Rabouin; Editing by Cynthia Osterman)
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