Speculators cut net long bets on U.S. dollar -CFTC, Reuters
By Saqib Iqbal Ahmed
NEW YORK (Reuters) -Speculators’ web lengthy bets on the U.S. greenback fell to a five-week low, based on calculations by Reuters and U.S. Commodity Futures Buying and selling Fee knowledge launched on Friday.
The worth of the web lengthy greenback place was $14.71 billion for the week ended Might 31. Final week, speculators’ web lengthy place stood at $17.65 billion.
U.S. greenback positioning was derived from web contracts of Worldwide Financial Market speculators within the Japanese yen, euro, British pound, Swiss franc, and Canadian and Australian {dollars}.
The U.S. greenback has risen almost 7% in opposition to a basket of currencies this yr, helped by a hawkish Federal Reserve and heightened geopolitical tensions which have boosted the buck’s safe-haven attraction.
The buck’s rally, nevertheless, has misplaced steam in current weeks, as some buyers fear that a whole lot of the excellent news for the foreign money is already mirrored within the worth.
“The greenback has been on an absolute tear for the primary 4 months of the yr … however nothing goes up in a straight line,” mentioned Minh Trang, senior foreign money dealer at Silicon Valley Financial institution in Santa Clara, California.
On Friday, U.S. greenback rose in opposition to a basket of currencies, after a better-than-expected U.S. employment report pointed to a good labor market that might hold the Federal Reserve on an aggressive path of rate of interest hikes.
JAPANESE YEN (Contracts of 12,500,000 yen)
$9.174 billion
31 Might 2022 Prior week
week
Lengthy 15,201 16,567
Brief 109,640 116,011
Web -94,439 -99,444
EURO (Contracts of 125,000 euros)
$-7.013 billion
31 Might 2022 Prior week
week
Lengthy 236,553 237,072
Brief 184,281 198,142
Web 52,272 38,930
POUND STERLING (Contracts of 62,500 kilos sterling)
$5.836 billion
31 Might 2022 Prior week
week
Lengthy 30,788 25,936
Brief 104,893 106,308
Web -74,105 -80,372
SWISS FRANC (Contracts of 125,000 Swiss francs)
$2.666 billion
31 Might 2022 Prior week
week
Lengthy 2,641 1,355
Brief 23,099 21,028
Web -20,458 -19,673
CANADIAN DOLLAR (Contracts of 100,000 Canadian {dollars})
$0.554 billion
31 Might 2022 Prior week
week
Lengthy 30,520 28,999
Brief 37,527 41,686
Web -7,007 -12,687
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie {dollars})
$3.492 billion
31 Might 2022 Prior week
week
Lengthy 32,897 36,579
Brief 81,579 82,025
Web -48,682 -45,446
MEXICAN PESO (Contracts of 500,000 pesos)
$-0.902 billion
31 Might 2022 Prior week
week
Lengthy 114,480 83,031
Brief 79,031 53,239
Web 35,449 29,792
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand {dollars})
$1.219 billion
31 Might 2022 Prior week
week
Lengthy 9,179 10,749
Brief 27,903 30,070
Web -18,724 -19,321
(Reporting by Saqib Iqbal AhmedEditing by Chris Reese and Lisa Shumaker)
