U.S. dollar net longs climb to highest since early March 2020 -CFTC, Reuters



By Gertrude Chavez-Dreyfuss

NEW YORK, July 30 (Reuters) - U.S. dollar net longs rose in the latest week to their highest level since early March last year, according to Reuters calculations and Commodity Futures Trading Commission data released on Friday.

The value of the net short dollar position advanced to $2.99 billion in the week ended July 27, from net longs of $399.69 million the previous week. U.S. dollar positioning flipped to net longs last week after being net short for 16 months.

U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the Japanese yen, euro, British pound and Swiss franc, as well as the Canadian and Australian dollars. In a broader measure of dollar positioning 0#NETUSDFX= that includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian ruble, the greenback posted a net long position of $2.88 billion this week, compared with net longs of $222 million the week before.

The dollar has gained ground the last few weeks on safe-haven bids on concerns about the fast-spreading Delta coronavirus variant and worries about China's economy, said Jonas Goltermann, senior markets economist, at Capital Economics.

Both factors remain "wildcards that may keep the dollar strong near term."

For the month of July, however, the dollar index posted a minor 0.2% decline after rising 2.8% in June.

The rise in dollar longs came as longs on the euro and Canadian dollar declined, data showed.

In the cryptocurrency market, bitcoin net shorts rose to 1,572 contracts in the week ended July 27, from net shorts of 1,192 the previous week.

Bitcoin's bullish momentum has lost steam the last few months amid a wave of global regulatory crackdown on the crypto sector. After hitting $40,000 this week, bitcoin was unable to surge higher. It was last up 0.3% at $40,124 BTC=BTSP .

Since hitting an all-time high of just under $65,000 in mid-April, bitcoin has fallen about 38%.

Japanese Yen (Contracts of 12,500,000 yen) $6.826 billion

27 Jul 2021

Prior week

week

Long

32,975

35,474 Short

92,909

91,205 Net

-59,934

-55,731 EURO (Contracts of 125,000 euros) $-5.63 billion

27 Jul 2021

Prior week

week

Long

202,245

208,669 Short

164,119

162,847 Net

38,126

45,822 POUND STERLING (Contracts of 62,500 pounds sterling) $0.493 billion

27 Jul 2021

Prior week

week

Long

41,194

44,223 Short

46,878

47,720 Net

-5,684

-3,497 SWISS FRANC (Contracts of 125,000 Swiss francs) $-1.161 billion

27 Jul 2021

Prior week

week

Long

18,262

18,061 Short

9,773

10,019 Net

8,489

8,042 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) $-0.427 billion

27 Jul 2021

Prior week

week

Long

47,048

59,883 Short

41,674

46,968 Net

5,374

12,915 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) $2.896 billion

27 Jul 2021

Prior week

week

Long

57,415

57,072 Short

96,762

92,762 Net

-39,347

-35,690 MEXICAN PESO (Contracts of 500,000 pesos) $0.661 billion

27 Jul 2021

Prior week

week

Long

65,404

66,141 Short

91,811

94,562 Net

-26,407

-28,421 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) $-0.099 billion

27 Jul 2021

Prior week

week

Long

19,505

20,671 Short

18,084

17,625 Net

1,421

3,046
Reporting by Gertrude Chavez-Dreyfuss; editing by Diane Craft and David Gregorio

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