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UPDATE 1-Speculators slash US dollar longs to smallest in more than a year -CFTC, Reuters
September 4, 2015 / 8:07 PM / 2 years ago

UPDATE 1-Speculators slash US dollar longs to smallest in more than a year -CFTC, Reuters

(Adds table, details on euro and yen contracts)
    Sept 4 (Reuters) - Speculators further cut back bullish bets
on the U.S. dollar in the latest week to their smallest since
July last year, declining for a second straight 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 fell to $21.61
billion in the week ended Sept. 1, from $23.99  billion the
previous week. This was the second consecutive week 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.
    Worries about declines in global equities and China's
worsening economy have prompted investors to pare back
expectations about an interest rate increase in September. That
spurred a sell-off in the dollar last month. In August, the
dollar index was down 1.6 percent.
    As this developed, investors reversed carry trades or bets
in more lucrative assets, funded by the low-yielding euro and
yen, resulting in a rally in both currencies.
    That caused investors to reduce net short yen positions to
15,555 contracts, from 38,059 previously. This week's net short
yen contracts were the smallest in about five months.
    Investors though marginally increased their bearish
positions on the euro to 67,857 contracts this week, from 66,078
the week before.
    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) 
         01 Sep 2015            Prior week
         week             
 Long             68,023            59,922
 Short            83,578            98,981
 Net             -15,555           -39,059
 
EURO (Contracts of 125,000 euros)
         01 Sep 2015            Prior week
         week             
 Long             74,910            87,807
 Short           142,767           153,885
 Net             -67,857           -66,078
 
POUND STERLING (Contracts of 62,500 pounds sterling)
         01 Sep 2015           Prior week
         week             
 Long             47,801           58,051
 Short            59,040           54,752
 Net             -11,239            3,299
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
         01 Sep 2015           Prior week
         week             
 Long              5,442            4,889
 Short            13,945           17,486
 Net              -8,503          -12,597
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
         01 Sep 2015           Prior week
         week             
 Long             28,964           29,555
 Short            84,083           89,267
 Net             -55,119          -59,712
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
         01 Sep 2015           Prior week
         week             
 Long             50,928           47,275
 Short           106,660          111,002
 Net             -55,732          -63,727
 
MEXICAN PESO (Contracts of 500,000 pesos)
         01 Sep 2015           Prior week
         week             
 Long             21,353           20,401
 Short            98,290          103,454
 Net             -76,937          -83,053
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
         01 Sep 2015           Prior week
         week             
 Long             13,543           15,388
 Short            21,822           21,451
 Net              -8,279           -6,063
 
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Chris Reese
and Diane Craft)

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