By Saqib Iqbal Ahmed
NEW YORK (Reuters) -Speculators’ net long bets on the U.S. dollar rose in the latest week, while net bearish bets on the euro grew to their largest level since November, 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 $15.59 billion for the week ended July 5. Last week, speculators’ net long position stood at $13.65 billion.
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.
The U.S. dollar has risen about 12% against a basket of currencies this year, helped by a hawkish Federal Reserve and heightened geopolitical tensions that have boosted the greenback’s safe-haven appeal.
On Friday, the dollar was little changed against a basket of currencies following a choppy session, after data showed the U.S. economy created more jobs than expected in June.
Speculators’ net short position on the euro rose to 16,852 contracts in the latest week, up from a net short position of 10,596 contracts. That was the most bearish positioning on the euro since November 2021.
The euro slipped to a fresh two-decade low against the greenback on Friday amid worries over the euro zone economy tipping into recession.
JAPANESE YEN (Contracts of 12,500,000 yen)
$5.009 billion
05 Jul 2022 Prior week
week
Long 38,660 36,462
Short 93,105 89,032
Net -54,445 -52,570
EURO (Contracts of 125,000 euros)
$2.163 billion
05 Jul 2022 Prior week
week
Long 197,138 189,414
Short 213,990 200,010
Net -16,852 -10,596
POUND STERLING (Contracts of 62,500 pounds sterling)
$4.2 billion
05 Jul 2022 Prior week
week
Long 39,618 35,184
Short 95,826 88,302
Net -56,208 -53,118
SWISS FRANC (Contracts of 125,000 Swiss francs)
$1.308 billion
05 Jul 2022 Prior week
week
Long 3,218 4,523
Short 13,353 13,114
Net -10,135 -8,591
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
$-0.329 billion
05 Jul 2022 Prior week
week
Long 45,365 45,893
Short 41,072 36,796
Net 4,293 9,097
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
$3.239 billion
05 Jul 2022 Prior week
week
Long 27,622 28,887
Short 75,243 71,867
Net -47,621 -42,980
MEXICAN PESO (Contracts of 500,000 pesos)
$0.351 billion
05 Jul 2022 Prior week
week
Long 107,141 107,031
Short 121,559 121,011
Net -14,418 -13,980
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
$0.435 billion
05 Jul 2022 Prior week
week
Long 13,634 11,720
Short 20,690 17,031
Net -7,056 -5,311
(Reporting by Saqib Iqbal Ahmed in New YorkEditing by Leslie Adler and Matthew Lewis)
