Speculators trim long U.S. dollar, short euro bets: CFTC

NEW YORK (BestGrowthStock) – Currency speculators trimmed bets in favor of the U.S. dollar and reduced bearish positions on the euro, data from the Commodity Futures Trading Commission showed on Friday.

The value of the dollar’s net long position totaled about $19.84 billion in the week ended June 1, compared with the $22.19 billion the previous week, according to CFTC and Reuters data.

The Reuters calculation for the aggregate U.S. dollar position is derived from the net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars.

Speculators also cut net shorts on the euro to 93,325 contracts from 106,736. The latest week’s net short contracts have a U.S. dollar value of $14.26 billion, down from the previous week’s $16.5 billion.

JAPANESE YEN (Contracts of 12,500,000 yen) 890,659,340.66

6/01/10 week 5/25/10 week

Long 33,215 31,994

Short 39,699 42,232

Net -6,484 -10,238

EURO (Contracts of 125,000 euros) 14,261,226,562.50

6/01/10 week 5/25/10 week

Long 45,006 45,630

Short 138,331 152,366

Net -93,325 -106,736

POUND STERLING (Contracts of 62,500 pounds sterling) 6,448,742,687.50

6/01/10 week 5/25/10 week

Long 11,809 10,962

Short 82,263 86,041

Net -70,454 -75,079

SWISS FRANC (Contracts of 125,000 Swiss francs) 1,591,577,308.89

6/01/10 week 5/25/10 week

Long 11,139 11,489

Short 25,863 24,108

Net -14,724 -12,619

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

-2,100,104,275.29

6/01/10 week 5/25/10 week

Long 37,262 40,113

Short 15,108 16,241

Net 22,154 23,872

AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)

-1,251,894,450.00

6/01/10 week 5/25/10 week

Long 37,021 39,367

Short 21,976 19,844

Net 15,045 19,523

MEXICAN PESO (Contracts of 500,000 pesos) -762,641,262.00

6/01/10 week 5/25/10 week

Long 26,142 34,203

Short 6,369 5,346

Net 19,773 28,857

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) -148,814,080.00

6/01/10 week 5/25/10 week

Long 7,622 11,342

Short 5,418 3,680

Net 2,204 7,662

Stock Report

(Reporting by Gertrude Chavez-Dreyfuss; Editing by Andrew Hay)

Speculators trim long U.S. dollar, short euro bets: CFTC