UPDATE 1-Specs raise bets against U.S. dollar -CFTC

(Adds details on contracts)

NEW YORK, Oct 29 (BestGrowthStock) – Currency speculators increased
bets against the dollar in the latest week as markets braced
for more monetary easing from the Federal Reserve, data from
the Commodity Futures Trading Commission showed on Friday.

The value of the dollar’s net short position rose to $24.53
billion in the week ended Nov. 2, compared to a net short of
$23.11 billion the previous week, according to Reuters and CFTC
calculations.

The Fed said on Nov. 3 it would buy $600 billion worth of
Treasuries over the next eight months, an attempt to drive U.S.
yields lower and inject life into a frustratingly sluggish
economy.

Anticipation of such a move had driven the dollar lower in
recent months and increased demand for higher-yielding
currencies and assets, especially in emerging markets.

Among major currencies, speculators increased bets in favor
of the British pound, the yen and the Canadian dollar in the
week leading up to the Fed announcement.

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, and Canadian and Australian dollars.

JAPANESE YEN (Contracts of 12,500,000 yen)

11/02/10 week 10/26/10 week

Long 63,061 61,305

Short 16,606 18,176

Net 46,455 43,129

EURO (Contracts of 125,000 euros)

11/02/10 week 10/26/10 week

Long 70,185 70,109

Short 31,575 29,604

Net 38,610 40,505

POUND STERLING (Contracts of 62,500 pounds sterling)

11/02/10 week 10/26/10 week

Long 39,900 33,001

Short 24,718 27,912

Net 15,182 5,089

SWISS FRANC (Contracts of 125,000 Swiss francs)

11/02/10 week 10/26/10 week

Long 23,363 24,600

Short 10,898 12,081

Net 12,465 12,519

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

11/02/10 week 10/26/10 week

Long 41,890 37,802

Short 18,525 17,927

Net 23,365 19,875

AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)

11/02/10 week 10/26/10 week

Long 66,821 67,433

Short 15,641 12,318

Net 51,180 55,115

MEXICAN PESO (Contracts of 500,000 pesos)

11/02/10 week 10/26/10 week

Long 104,522 103,670

Short 22,250 23,527

Net 82,272 80,143

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand
dollars)

11/02/10 week 10/26/10 week

Long 23,393 21,577

Short 4,245 5,706

Net 19,148 15,871
(Reporting by Steven C. Johnson; editing by Leslie Adler)

UPDATE 1-Specs raise bets against U.S. dollar -CFTC