FX Speculators Raised US Dollar Bullish Bets For 1st Time In 3 Weeks
US dollar net speculator positions rose to $8.00 billion last week
The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading Commission (CFTC) on Friday, showed that large traders and currency speculators increased their bullish bets in favor of the US dollarfor the first time in three weeks last week.
Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar long position totaling $8.0 billion as of Tuesday June 6th according to the latest data from the CFTC and dollar amount calculations by Reuters. This was a weekly gain of $0.47 billion from the $7.53 billion total long position that was registered the previous week, according to the Reuters calculation (totals of the US dollar contracts against the combined contracts of the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc).
The aggregate US dollar positions, despite the weekly gain, remain below the $+10 billion level for a third consecutive week after staying above that level from September 27th 2016 to May 23rd.
