Net US dollar shorts fall to two-month low -CFTC, Reuters data

A US dollar banknote is visible in front of the stock chart displayed in this illustration taken May 7, 2021. REUTERS / Dado Ruvic / Illustration

NEW YORK, July 2 (Reuters) – The net shorts of the US dollar fell to their lowest level since the end of April, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday.

The value of the net short dollar position fell to $ 10.44 billion in the week ended June 29, from $ 12.80 billion the week before. Net short US dollar contracts slipped for a second straight week.

The US dollar positioning was derived from the net contracts of international money market speculators in Japanese yen, euros, pounds sterling and Swiss francs, as well as Canadian and Australian dollars.

In a broader measure of dollar positioning which includes net contracts in the New Zealand dollar, Mexican peso, Brazilian real and Russian ruble, the greenback posted a net short position of $ 10.94 billion this year. week, compared to net sales of $ 13.04 billion the week before.

The dollar has gained ground since the Federal Reserve took a surprising Hawkish stance at its monetary policy meeting last month. The Fed’s forecast calls for two rate hikes in the United States by the end of 2023.

For the month of June, the dollar index posted its best monthly performance since November 2016.

The dollar, however, abandoned its gains on Friday after the release of what was seen as a mixed report on non-farm wages in the United States. Read more

“While our non-consensus view that the US dollar will strengthen this summer has been more than offset by recent market movements, we have yet to see enough evidence to lower our long-held forecast for the euro / dollar to $ 1.17, “said Jane Foley, head of FX strategy at Rabobank in London.

The euro last traded up 0.1% to $ 1.1862.

In the cryptocurrency market, bitcoin net sales fell to 1,345 contracts in the week ending June 29, down from 1,528 the week before.

Bitcoin’s rise to power has stalled this year following the crackdown on the crypto industry in China, Japan, Britain, and most recently Thailand.

Since hitting a record high of just under $ 65,000 in mid-April, bitcoin has fallen by about 50%. Bitcoin was down 0.9% to $ 33,253 on Friday. For the month of June, the world’s most popular cryptocurrency fell 5%.

Japanese yen (12,500,000 yen contracts)

$ 6.085 billion

EURO (Contracts of 125,000 euros)

– $ 13.29 billion

STERLING BOOK (Contracts of 62,500 pounds sterling)

-1.563 billion dollars

SWISS FRANC (Contracts of 125,000 Swiss francs)

-1.846 billion dollars

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

– $ 3.513 billion

AUSTRALIAN DOLLAR (Contracts of 100,000 Australian dollars)

$ 1.327 billion

MEXICAN PESO (Contracts of 500,000 pesos)

$ 0.703 billion

NEW ZEALAND DOLLAR (NZ $ 100,000 contracts)

– $ 0.231 billion

Reporting by Gertrude Chavez-Dreyfuss, editing by Rosalba O’Brien and David Gregorio

Our standards: Thomson Reuters Trust Principles.

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