April 22, 2016 / 8:41 PM / 4 years ago

UPDATE 1-Speculators have net dollar short positions for first time since May -CFTC and Reuters

* Net longs in yen highest since March 1995
    * Net shorts in euro lowest in 8 weeks

 (Recasts, adds data)
    April 22 (Reuters) - Speculators turned negative on the U.S.
dollar this week, with more investors in the global currency
market taking short positions against the dollar than long
positions, for the first time in nearly a year.
    The value of the dollar's position fell to -$1.85 billion in
the week ended April 19, from $0.4 billion the previous week,
according to Reuters calculations and data from the Commodity
Futures Trading Commission released on Friday. 
    It was the first time since May 6 that investors have been
short the dollar on a net basis. 
    Net long yen contracts rose to 71,870, the highest since
Reuters records began in March 1995, surpassing the previous
high touched last week when yen contracts rose to 66,190.
    The dollar rose 2 percent against the yen on Friday, hitting
a three-week high against the Japanese currency, after a report
the Bank of Japan was considering expanding its negative rate
policy to bank loans and could cut rates further.
    For the week, the dollar was set to rise 2.6 percent against
the yen, which would mark its strongest weekly gain against the
Japanese currency since late October 2014. 
    The dollar hit a 17-month low against the yen of 107.61 yen
on April 11. Analysts partly attributed the yen's rise to bets
that the Bank of Japan would not intervene to stop the yen's
recent rally.
    A weaker currency is desireable because Japan's economy
relies heavily on exports and a weaker currency makes Japanese
products less expensive to foreign buyers.
    Euro net short contracts fell to 46,917, their lowest in
eight weeks.
    The dollar rose this week against a basket of six major
world currencies, its second weekly gain in a row after falling
five of the past six weeks.
    The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
speculators in the yen, euro, British pound, Swiss franc and
Canadian and Australian dollars.
    
Japanese Yen (Contracts of 12,500,000 yen) 
 -$8.229 billion
         19 Apr 2016            Prior week
         week             
 Long            105,710           100,120
 Short            33,840            33,930
 Net              71,870            66,190
 
EURO (Contracts of 125,000 euros)
 $6.66 billion
         19 Apr 2016            Prior week
         week             
 Long            101,211            89,216
 Short           148,128           141,267
 Net             -46,917           -52,051
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 $4.961 billion
         19 Apr 2016           Prior week
         week             
 Long             32,765           33,848
 Short            87,917           85,158
 Net             -55,152          -51,310
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 -$1.223 billion
         19 Apr 2016           Prior week
         week             
 Long             19,859           17,478
 Short            10,449            9,240
 Net               9,410            8,238
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 -$0.577 billion
         19 Apr 2016           Prior week
         week             
 Long             32,473           28,968
 Short            25,165           26,583
 Net               7,308            2,385
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 -$3.445 billion 
         19 Apr 2016           Prior week
         week             
 Long             97,472           90,768
 Short            53,366           55,646
 Net              44,106           35,122
 
MEXICAN PESO (Contracts of 500,000 pesos)
 $0.416 billion
         19 Apr 2016           Prior week
         week             
 Long             43,925           40,518
 Short            58,334           87,109
 Net             -14,409          -46,591
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 -$0.377 billion 
         19 Apr 2016           Prior week
         week             
 Long             22,674           21,472
 Short            17,323           17,180
 Net               5,351            4,292
 
 (Reporting by Dion Rabouin; Editing by Bernard Orr)
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