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Speculators further pared their net long U.S. dollar position in the latest week to the smallest level in three months, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar’s net long position slid by more than $7 billion to $34.64 billion in the week ended Dec. 16, from $42.19 billion the previous week. This was the smallest net long position on the greenback since late September.
This was also the largest decline in net dollar longs since week of March 21. This snapped a 10-week streak that U.S. dollar longs have touched at least $40 billion. The dollar had retreated from its earlier rally as investors booked gains ahead of this week’s Federal Reserve policy meeting and last days of 2014.
The dollar index closed up 0.4 percent on Friday, bringing its weekly gain to 1.4 percent which was on track for its strongest single-week increase since early November 2013. Moreover, the dollar index (current price: 89.5980) is trading at 52 week highs (78.9060 – 89.6540) and it’s highest level in over eight years when the index on Friday hit 89.6540, its highest since April 2006.
“The dollar’s rise is a continuation of the broad dollar strength that we’ve been seeing, which was further supported by the Fed announcement,” said Eric Viloria, currency strategist at Wells Fargo Securities in New York.
You can also view full details from the latest CFTC commitment of traders report below:
Japanese Yen (Contracts of 12,500,000 yen) Net $9.336 billion dollar long 16Dec2014 week Prior week Long 45,652 38,067 Short 132,579 142,203 Net -86,927 -104,136 EURO (Contracts of 125,000 euros) Net $19.806 billion dollar long 16Dec2014 week Prior week Long 56,179 58,306 Short 182,834 195,218 Net -126,655 -136,912 POUND STERLING (Contracts of 62,500 pounds sterling) Net $1.432 billion dollar long 16Dec2014 week Prior week Long 37,861 37,695 Short 52,413 61,297 Net -14,552 -23,602 SWISS FRANC (Contracts of 125,000 Swiss francs) Net $0.476 billion dollar long 16Dec2014 week Prior week Long 18,905 8,971 Short 22,560 31,068 Net -3,655 -22,097 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) Net $1.35 billion dollar long 16Dec2014 week Prior week Long 32,397 33,406 Short 48,091 47,768 Net -15,694 -14,362 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) Net $2.815 billion dollar long 16Dec2014 week Prior week Long 26,786 17,378 Short 61,039 62,391 Net -34,253 -45,013 MEXICAN PESO (Contracts of 500,000 pesos) Net $1.789 billion dollar long 16Dec2014 week Prior week Long 25,843 32,116 Short 78,599 80,710 Net -52,756 -48,594 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) Net $0.05 billion dollar long 16Dec2014 week Prior week Long 9,865 9,786 Short 10,504 12,081 Net -639 -2,295