US dollar net longs tumble to lowest since early Nov-CFTC

February 28, 2014

Chicago (Feb 28)  Speculators reduced bets on the U.S. dollar in the latest week, with net longs falling to their
lowest in nearly four months,  according to data from the Commodity Futures Trading Commission released on Friday.
The value of the dollar's net long position dropped to $13.77 billion in the week ended Feb 25, from $16.28 billion
the previous week. That was the smallest net long on the U.S. dollar since the week of Nov. 5.
Short-term investors have reduced long positions on the U.S. dollar for a third straight week, suggesting a move away from
the greenback given the recent spate of soft U.S. economic data. Economic weakness could temporarily halt the Federal Reserve's
ongoing bond-purchase tapering plan, a negative scenario for the dollar.
 Still, it was the 17th straight long position for the buck. The last time speculators were short the greenback was in late October.
 To be long a currency is a view it will rise, while being short is a bet its value will decline.
 The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
Market speculators in the yen, euro, British pound, Swiss franc
and Canadian and Australian dollars.

Source:  Reuters

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