Currency speculators boosted bets against the US dollar for a second straight week in the latest period, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position rose to $22.98 billion in the week ended June 7, from net shorts of $15.73 billion a week earlier.
The Reuters calculation for the aggregate US dollar position is derived from the net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars. Euro net long positions more than doubled while Canadian net long positions halved in the latest period.
Non-commercial speculators were net long the euro to a total of 51,836 contracts in the week ended June 7, up from 21,970 contracts the week before. The net position dollar value of US $9.52 billion was made up of 96,555 long contracts, a rise of 16,061 contracts from the prior week and 44,719 short contracts, 13,805 contracts down from the prior week.
Open interest stood at 296,126 contracts, up 26,025 from the prior week. Non-commercial reportable long positions represented 32.6 percent of open interest while non-commercial reportable short positions were 15.1 percent of open interest.
Non-commercial speculators were net long the Canadian dollar to a total of 13,522 contracts for the week ended June 7, down from 26,402 contracts the week before. The net position dollar value of US $1.38 billion was made up of 32,631 long contracts, a drop of 3,026 contracts from the prior week and 19,109 short contracts, 9,854 contracts more than the prior week.
Open interest stood at 129,110 contracts, up 3,456 from the prior week. Non-commercial reportable long positions represented 25.3 percent of open interest while non-commercial reportable short positions were 14.8 percent of open interest. The Reuters calculation for the aggregate US dollar position is derived from the net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars.
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