October 2, 2015 / 8:25 PM / 4 years ago

UPDATE 1-Speculators lift net US dollar longs in latest week-CFTC, Reuters

(Adds details about dollar, sterling contracts; adds table)
    Oct 2 (Reuters) - Speculators increased bullish bets on the
U.S. dollar, after hitting their lowest level in more than a
year in the previous week, according to Reuters calculations and
data from the Commodity Futures Trading Commission released on
    The value of the dollar's net long position rose to $21.73
billion in the week ended Sept. 29, from $20.48 billion the week
before. This was the first increase in net dollar longs in three
weeks. That said, this was the sixth straight week dollar longs
came in under $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.
    The dollar's fortunes have been tied the last couple of
months to the outlook for U.S. interest rates, which has changed
constantly, in line with U.S. economic data. The longer the
Federal Reserve delays raising interest rates, the more the
dollar struggles.
    For the month of September though, the dollar index was up
0.5 percent, way off the steep gains seen early this year.
    On a broad basis, the Fed is still expected to be the first
major central bank to raise interest rates and that is seen
benefiting the dollar. But the uncertainty about the timing of
that first interest rate increase from the Fed has limited the
dollar's upside and appeal to investors.
    In other currencies, the British pound turned net short to
the tune of 2,047 contracts in the latest week, after posting a
net long position the previous week.
    The other notable changes were an increase in net shorts for
the Canadian dollar and a big jump in Mexican peso short
    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.
Japanese Yen (Contracts of 12,500,000 yen) 
         29 Sep 2015            Prior week
 Long             39,753            48,282
 Short            61,805            71,960
 Net             -22,052           -23,678
EURO (Contracts of 125,000 euros)
         29 Sep 2015            Prior week
 Long             61,932            63,526
 Short           149,592           144,559
 Net             -87,660           -81,033
POUND STERLING (Contracts of 62,500 pounds sterling)
         29 Sep 2015           Prior week
 Long             49,815           45,001
 Short            51,862           43,734
 Net              -2,047            1,267
SWISS FRANC (Contracts of 125,000 Swiss francs)
         29 Sep 2015           Prior week
 Long             13,266           13,722
 Short            15,981           15,598
 Net              -2,715           -1,876
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
         29 Sep 2015           Prior week
 Long             36,211           40,901
 Short            78,446           79,295
 Net             -42,235          -38,394
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
         29 Sep 2015           Prior week
 Long             44,560           42,666
 Short            93,425           95,498
 Net             -48,865          -52,832
MEXICAN PESO (Contracts of 500,000 pesos)
         29 Sep 2015           Prior week
 Long             31,276           47,626
 Short            75,727           59,982
 Net             -44,451          -12,356
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
         29 Sep 2015           Prior week
 Long             20,995           22,990
 Short            24,057           26,519
 Net              -3,062           -3,529
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Meredith
Mazzilli and Diane Craft)
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