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FX Speculators Cut Net U.S. Dollar Bets to Lowest Since Mid February

Posted by WorldWideMarkets . on Oct 29, 2013 2:24:00 AM

It’s of academic interest only given the delay from the government shutdown but currency speculators cut bets in favor of the U.S. dollar to the lowest since February in the week ended Oct. 1, using data from the Commodity Futures Trading Commission released on Friday and one major house calculation.

The dollar's net long position fell to just $692.8 million the week ended Oct. 1, the smallest since the week ended Feb. 19 and down from long net dollar bets of $3.58 billion in the week ended September 24.

The data reflects immediate changes to positioning after the Federal Reserve’s September meeting where it unexpectedly left current stimulus intact rather than beginning to taper or slow its asset purchase program which has been supporting the economy through and after the Great Recession.

It also reflects positioning as the government shutdown began.

This Friday will see the release of two reports as the CFTC clears the backlog. cftc



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