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.
25-year dollar index chart. Courtesy: BarChart.com
“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