September 8, 2017 / 8:45 PM / 15 days ago

UPDATE 1-U.S. short dollar bets largest since Jan 2013 -CFTC, Reuters

 (New throughout, adds comments, details, table)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, Sept 8 (Reuters) - Speculators' net short bets on
the U.S. dollar grew to their highest since January 2013 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 short position, derived from
net positions of International Monetary Market speculators in
the yen, euro, British pound, Swiss franc and Canadian and
Australian dollars, was $10.89 billion in the week to Aug. 29. 
    The previous week's net short position was $10.28 billion.
    In a wider measure of dollar positioning that includes net
contracts on the New Zealand dollar, Mexican peso, Brazilian
real and Russian ruble, the U.S. dollar posted a net short
position valued at $15.528 billion, compared with $14.66 billion
a week earlier.
    James Chen, head of research at FOREX.com, in Bedminster,
New Jersey, said an increasingly dovish U.S. outlook for
interest rates, monetary policy, and fiscal policy have
continued to undermine the dollar.
    He noted that the dollar could be set for an impending
breakdown against the yen below the support level, especially if
global risk factors further boost safe-haven demand for the
Japanese currency.
    The dollar has lost roughly 8 percent versus the yen so far
this year.
    Meanwhile, the euro long bets rose to 96,309 contracts,
their largest since May 2011. The euro's ascent has been
supported by expectations that the European Central Bank will
end stimulus to the euro zone.
    Reuters reported on Friday that European Central Bank
policymakers agreed at their meeting on Thursday that their next
step would be to begin reducing monetary stimulus, three sources
with direct knowledge of the discussion said.
    So far in 2017, the euro has gained nearly 15 percent
against the dollar, on track for its best yearly performance in
14 years.
    
Japanese Yen (Contracts of 12,500,000 yen) 
 $8.381 billion
         05 Sep 2017            Prior week
         week             
 Long             47,285            43,889
 Short           120,230           112,413
 Net             -72,945           -68,524
 
EURO (Contracts of 125,000 euros)
 $-14.34 billion
         05 Sep 2017            Prior week
         week             
 Long            194,976           194,331
 Short            98,667           107,812
 Net              96,309            86,519
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $4.311 billion
         05 Sep 2017           Prior week
         week             
 Long             54,454           60,053
 Short           107,381          111,608
 Net             -52,927          -51,555
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 $0.284 billion
         05 Sep 2017           Prior week
         week             
 Long             11,892           13,209
 Short            14,063           14,987
 Net              -2,171           -1,778
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-4.337 billion
         05 Sep 2017           Prior week
         week             
 Long             94,732           86,806
 Short            41,088           33,639
 Net              53,644           53,167
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $-5.189 billion 
         05 Sep 2017           Prior week
         week             
 Long            103,353          100,962
 Short            38,449           34,435
 Net              64,904           66,527
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $-3.175 billion
         05 Sep 2017           Prior week
         week             
 Long            141,051          135,549
 Short            27,439           38,539
 Net             113,612           97,010
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $-1.065 billion 
         05 Sep 2017           Prior week
         week             
 Long             26,773           29,002
 Short            12,050           10,198
 Net              14,723           18,804
 
 (Reporting by Gertrude Chavez-Dreyfuss; editing by Diane Craft
and David Gregorio)
  

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