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Speculators More Bullish on the Dollar, Fourth Week of Gains

Posted by WorldWideMarkets . on Jun 3, 2013 3:46:00 AM
Despite recent volatility in particular pairs, such as dollar/yen, speculators again raised their bets in favor of the U.S. dollar, using data from the Commodities Futures Trading Commission. It was the fourth week of rising bullishness on the U.S. unit with the net long position rising to $43.77 billion from $41 billion in the previous week. The most interesting trade was the dollar against the yen. Despite the apparent change in sentiment on the Japanese currency, speculators againyen currency trading raised their net short positions on the yen against the dollar. Not by a huge amount, 99,769 net short contracts, from 95,186 contracts the previous week, but more than enough to indicate many investors have not changed their minds on longer term yen weakness even with recent gyrations. This week’s data was the first to reflect positioning after the massive 7 percent sell off in the Nikkei on May 23 which seemed to mark a sea change for the unit in some quarters.

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