Speculators' net long bets on U.S. dollar edge higher -CFTC, Reuters

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U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/Illustration

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NEW YORK, March 11 (Reuters) - Speculators' net long bets on the U.S. dollar edged higher in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday.

The value of the net long dollar position was $5.44 billion for the week ended March 8. Last week, speculators' net long position stood at $5.12 billion, the lowest level since mid-August 2021.

U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the Japanese yen, euro, British pound, Swiss franc, and Canadian and Australian dollars.

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In a wider measure of dollar positioning that includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian rouble, the greenback posted a net long of $3.88 billion, up from $3.84 billion a week earlier.

The fallout from the Russia-Ukraine has boosted the dollar, upending investor expectations for a weaker greenback as geopolitical uncertainty and worries over European growth raise the U.S. currency’s appeal. read more

The dollar which rose 6.3% against a basket of currencies in 2021, has climbed another 3.6% for the year.

Speculators also trimmed their net long positioning on the euro to 58,844 contracts, down from 64,939 contracts, last week.

In the wake of Russia's attack and the consequent financial sanctions on the country, net longs on the Russian rouble were slashed to 9,674 contracts, the lowest since late January.

Japanese Yen (Contracts of 12,500,000 yen)

$6.037 billion

EURO (Contracts of 125,000 euros)

$-8.017 billion

POUND STERLING (Contracts of 62,500 pounds sterling)

$1.026 billion

SWISS FRANC (Contracts of 125,000 Swiss francs)

$1.307 billion

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

$-0.594 billion

AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)

$5.682 billion

MEXICAN PESO (Contracts of 500,000 pesos)

$-1.241 billion

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)

$0.842 billion

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Reporting by Saqib Iqbal Ahmed; editing by Jonathan Oatis and David Gregorio

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