September 13, 2019 / 8:38 PM / 2 months ago

UPDATE 1-Speculators cut long dollar bets in latest week -CFTC, Reuters

 (Adds context, news, table)
    By Kate Duguid
    NEW YORK, Sept 13 (Reuters) - Speculators reduced their
bullish bets on the U.S. dollar in the latest week, according to
calculations by Reuters and Commodity Futures Trading Commission
data released on Friday. 
    The value of the dollar's net long position, derived from
net positions of International Monetary Market speculators in
the yen, euro, British pound, Swiss franc and Canadian and
Australian dollars, was $13.33 billion in the week to Sept. 10.
    That compares with a net long position of $14.24 billion in
the previous period.
    In a wider measure of dollar positioning that
includes net contracts on the Brazilian real and Russian ruble,
the U.S. dollar posted a net short position valued at $12.58
billion, down from $13.11 billion a week earlier.
    Early this week, the dollar drifted lower as investor
appetite for higher risk currencies found support on a report of
German stimulus plans, diminishing chances of a no-deal Brexit
and hopes of a breakthrough in the U.S.-China trade war.
    Since then, the dollar has fallen further as the euro has
gained following the European Central Bank's decision on
Thursday to exempt euro zone banks from a penalty charge, which
analysts say will reduce the currency impact of new stimulus.
    The ECB on Thursday cut its deposit rate to a record low
-0.5% from -0.4% and said it will restart bond purchases of 20
billion euros a month from November. The purchases will run for
as long as necessary and end shortly before it starts raising
the key ECB interest rates.

    Japanese Yen (Contracts of 12,500,000 yen) 
 $-3.789 billion
         10 Sep 2019            Prior week
         week             
 Long             56,579            57,222
 Short            23,988            29,540
 Net              32,591            27,682
 
EURO (Contracts of 125,000 euros)
 $6.88 billion
         10 Sep 2019            Prior week
         week             
 Long            180,535           186,144
 Short           230,377           235,280
 Net             -49,842           -49,136
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $7.117 billion
         10 Sep 2019           Prior week
         week             
 Long             37,903           38,695
 Short           130,136          123,654
 Net             -92,233          -84,959
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $0.364 billion
         10 Sep 2019           Prior week
         week             
 Long             16,087           16,362
 Short            18,979           22,201
 Net              -2,892           -5,839
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-0.876 billion
         10 Sep 2019           Prior week
         week             
 Long             54,971           48,206
 Short            43,448           42,857
 Net              11,523            5,349
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $3.636 billion 
         10 Sep 2019           Prior week
         week             
 Long             36,994           34,089
 Short            90,008           93,407
 Net             -53,014          -59,318
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $-2.453 billion
         10 Sep 2019           Prior week
         week             
 Long            126,807          126,271
 Short            31,170           34,480
 Net              95,637           91,791
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $1.913 billion 
         10 Sep 2019           Prior week
         week             
 Long             22,490           21,066
 Short            52,280           51,742
 Net             -29,790          -30,676
      

 (Reporting by Kate Duguid; Editing by David Gregorio and Tom
Brown)
  
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