Speculators’ net long USD bets grow -CFTC, Reuters

Speculators’ net long USD bets grow -CFTC, Reuters
Speculators' net long USD bets grow -CFTC, Reuters
© Reuters. FILE PHOTO: Signage is seen outside of the US Commodity Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly

By Saqib Iqbal Ahmed

NEW YORK (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 $10.21 billion for the week ended Oct. 18, compared with a net long position of $9.33 billion last week.

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.

CFTC data also showed Japanese yen net shorts increased in the latest week to 94,336 contracts, the largest short position since late May. Among the major currencies, the yen has struggled the most against the dollar as the Bank of Japan remains the only central bank that is not in a tightening mode. The yen has plummeted by nearly 22% against the dollar this year.

Japanese authorities likely intervened in markets to stem the slide of the country’s battered currency on Friday, market participants said, following an unexpected jump in the yen against the dollar.

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

18 Oct 2022 Prior week

week

Long 30,583 30,149

Short 124,919 107,542

Net -94,336 -77,393

EURO (Contracts of 125,000 euros)

18 Oct 2022 Prior week

week

Long 202,703 196,136

Short 154,553 158,637

Net 48,150 37,499

POUND STERLING (Contracts of 62,500 pounds sterling)

18 Oct 2022 Prior week

week

Long 40,328 48,979

Short 91,539 88,149

Net -51,211 -39,170

SWISS FRANC (Contracts of 125,000 Swiss francs)

18 Oct 2022 Prior week

week

Long 7,052 5,501

Short 14,138 11,391

Net -7,086 -5,890

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

18 Oct 2022 Prior week

week

Long 35,384 32,476

Short 55,957 58,148

Net -20,573 -25,672

AUSTRALIAN DOLLAR (Contracts of 100,000 dollars)

18 Oct 2022 Prior week

week

Long 33,046 29,325

Short 68,405 60,596

Net -35,359 -31,271

MEXICAN PESO (Contracts of 500,000 pesos)

18 Oct 2022 Prior week

week

Long 133,432 120,239

Short 155,726 153,893

Net -22,294 -33,654

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

18 Oct 2022 Prior week

week

Long 10,328 11,894

Short 28,773 30,936

Net -18,445 -19,042

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