IMM speculators' bets against dollar hold steady

13 May, 2007

Speculators hardly changed the amount of their total bets against the dollar in the week to Tuesday, data from the Commodity Futures Trading Commission shows.
The total value of the net short dollar position in the latest week rose slightly to $16.73 billion from around $16.54 billion in the previous week, according to Reuters calculations.
In terms of contracts, the net long euro position declined slightly to 105,270 contracts, but was still not far short of a record high of just above 111,000 hit last month. The net long position in the Canadian dollar rose to 17,819 contracts, the highest in around 8 months.
The net dollar position is derived from the net positions of International Monetary Market speculators in yen, euro, British pound, Swiss franc and Canadian and Australian dollars.

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