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UPDATE 1-U.S. dollar net longs rebound from five-week low: CFTC, Reuters data
April 14, 2017 / 9:11 PM / 7 months ago

UPDATE 1-U.S. dollar net longs rebound from five-week low: CFTC, Reuters data

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    NEW YORK, April 14 (Reuters) - Speculators rebuilt their
bullish bet on the U.S. dollar earlier this week, raising net
longs from a five-week low, according to calculations by Reuters
and Commodity Futures Trading Commission data released on
Friday.
    Speculators had scaled back bullish dollar bets on doubts
about U.S. President Donald Trump's ability to deliver on his
pledges of tax cuts and infrastructure spending in the wake of
his and the Republicans' failure to gather enough votes to enact
healthcare reform last month.
    The value of the dollar's net long position totaled $15.04
billion in the week ended April 11, up from $14.67 billion the
previous week which was the lowest since Feb. 28.
    It was unclear whether speculators pared their net longs in
reaction to Trump's view in a Wall Street Journal interview
published late Wednesday where he said the dollar was "getting
too strong," which may hurt the economy.
    The dollar index, which measures the greenback
against six other currencies, eased nearly 0.7 percent this week
as traders shifted out of dollar into the Japanese yen in a
safe-haven move on geopolitical concerns about U.S. tensions
with Syria, Russia and North Korea.
    Speculative net shorts on the Japanese yen
fell to 34,764 contracts, the fewest since Dec. 6.
    The dollar recorded a 2.2 percent drop against the Japanese
currency this week and reached its lowest level since
Nov. 17 at 108.52 yen. It also broke below its 200-day moving
average against the yen, which is a bearish technical sign for
the greenback. 
    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) 
 Net $5.171 billion long
         April 11, 2017    Prior week
         week            
 Long            43,316        41,313
 Short           78,080        87,113
 Net            -34,764       -45,800
 
EURO (Contracts of 125,000 euros)
 Net $1.521 billion long
         April 11, 2017    Prior week
         week            
 Long           173,594       155,468
 Short          192,550       166,873
 Net            -18,956       -11,405
 
POUND STERLING (Contracts of 62,500 pounds sterling)
 Net $7.749 billion long
         April 11, 2017    Prior week
         week            
 Long            31,871        30,741
 Short          137,772       130,414
 Net           -105,901       -99,673
 
SWISS FRANC (Contracts of 125,000 Swiss francs)
 Net $1.725 billion long
         April 11, 2017    Prior week
         week            
 Long            13,107         5,694
 Short           23,235        19,519
 Net            -10,128       -13,825
 
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 Net $2.255 billion long
         April 11, 2017    Prior week
         week            
 Long            31,432        38,535
 Short           63,766        68,760
 Net            -32,334       -30,225
 
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 Net $3.751 billion short 
         April 11, 2017    Prior week
         week            
 Long            76,747        90,215
 Short           31,596        40,622
 Net             45,151        49,593
 
MEXICAN PESO (Contracts of 500,000 pesos)
 Net $0.257 billion long 
         April 11, 2017    Prior week
         week            
 Long            86,813        80,979
 Short           99,488        90,667
 Net            -12,675        -9,688
 
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 Net $1.026 billion long 
         April 11, 2017    Prior week
         week            
 Long            19,008        17,009
 Short           34,161        31,733
 Net            -15,153       -14,724
 
 (Reporting by Richard Leong; editing by Bill Trott, G Crosse)
  

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