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Net U.S. dollar longs rise to largest in five weeks

Net U.S. dollar longs rise to largest in five weeks
July 19, 2015
SINGAPORE - Speculators increased bullish bets on the U.S. dollar to the largest in about five weeks, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position rose to $27.29 billion in the week ended July 14, from $25.76 billion in the previous week. This week's net dollar longs were the highest since June 9, rising for a third straight week. To be long a currency is to take a view it will rise, while being short is a bet that its value will decline. Investors flocked to the safe-haven greenback in the last few weeks amid the uncertain situation in Greece and the decline in the Chinese stock market. Greece's debt crisis and China's equity market have since stabilized, although that should not deter further inflows into the U.S. dollar. The dollar index so far this month is up 2.5 percent after declining 1.5 percent in June. Net short positions on the euro, meanwhile, increased to 107,781 contracts in the latest week, from 99,266 contracts the previous week. 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 the Canadian and Australian dollars. Japanese Yen (Contracts of 12,500,000 yen) Net SHORT -- -47,371 EURO (Contracts of 125,000 euros) Net SHORT -- -107,781 POUND STERLING (Contracts of 62,500 pounds sterling) Net SHORT -- -24,199 SWISS FRANC (Contracts of 125,000 Swiss francs) Net LONG -- 3,081 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) Net SHORT -- -40,726 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) Net SHORT -- -33,541 - Reuters
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