August 28, 2015 / 8:40 PM / 4 years ago

UPDATE 1-Speculators cut net U.S. dollar longs to lowest since mid-June-CFTC, Reuters

(Adds table, details on euro, yen contracts)
    Aug 28 (Reuters) - Speculators pared back bullish bets on
the U.S. dollar in the latest week to their smallest in more
than two months, according to Reuters calculations and data from
the Commodity Futures Trading Commission released on Friday.
    The value of the dollar's net long position fell to $23.99
billion in the week ended Aug. 25, from $32.26 billion the
previous week. This was the first time in four weeks that net
dollar longs came in below $30 billion.
    To be long a currency is to make a bet it will rise, while
being short is a bet its value will decline.
    Concerns about global equity weakness and China's deepening
slowdown convinced speculators that the Federal Reserve would
delay raising interest rates. That prompted a sell-off in the
dollar the last two weeks.
    At the same time, investors bought back the euro and yen, as
they unwound carry trades, or bets in high-yielding assets,
funded in both low-interest rate currencies.
    As a result, net euro short contracts dropped to 66,078 in
the latest week, from 92,732 previously. This week's net euro
shorts were the smallest in more than a year.
    Net short yen contracts also fell to 39,059, from 90,130 the
previous week. That was the lowest net shorts since mid-May.
    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.
    
YEN (Contracts of 12,500,000 yen) 
         Aug. 25, 2015          Prior week
         week             
 Long             59,922            45,935
 Short            98,981           136,065
 Net             -39,059           -90,130
 
EURO (Contracts of 125,000 euros)
         Aug. 25, 2015          Prior week
         week             
 Long             87,807            68,473
 Short           153,885           161,205
 Net             -66,078           -92,732
 
POUND STERLING (Contracts of 62,500 pounds sterling)
         Aug. 25, 2015         Prior week
         week             
 Long             58,051           52,030
 Short            54,752           56,001
 Net               3,299           -3,971
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
         Aug. 25, 2015         Prior week
         week             
 Long              4,889            8,183
 Short            17,486           18,051
 Net             -12,597           -9,868
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
         Aug. 25, 2015         Prior week
         week             
 Long             29,555           21,407
 Short            89,267           88,201
 Net             -59,712          -66,794
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
         Aug. 25, 2015         Prior week
         week             
 Long             47,275           47,544
 Short           111,002           97,427
 Net             -63,727          -49,883
 
MEXICO PESO (Contracts of 500,000 pesos)
         Aug. 25, 2015         Prior week
         week             
 Long             20,401           24,629
 Short           103,454           85,056
 Net             -83,053          -60,427
 
NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars)
         Aug. 25, 2015         Prior week
         week             
 Long             15,388           14,012
 Short            21,451           23,969
 Net              -6,063           -9,957
 
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by James
Dalgleish)
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