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Long U.S Dollar Bets Fall Amid Exciting Jobs Data

Mount Equity Group Tokyo Japan > News > Markets > Long U.S Dollar Bets Fall Amid Exciting Jobs Data

Despite positive economic data from the world’s largest economy, the US Dollar Index fell to 94.2 index points, down by over 140 basis points on Friday.

In a better-than-expected US nonfarm payrolls report, more than 425K new jobs were added to the economy, giving the US Dollar Index a boost to new yearly highs, around 94.62. US Treasury yields, however, are falling, with the 10-year benchmark falling to 1.458% for the first time since October 4.

U.S. Commodity Futures Trading Commission data released on Friday indicate that long bets on the U.S. dollar have fallen to their lowest level since late September.

Net long dollar positions decreased from $20 billion to $19.51 billion for the week ended Nov. 2. This is the fourth consecutive decline in net long dollar positions.

The dollar positioning was calculated based on contracts entered into by speculators in the Japanese yen, euro, British pound, Swiss franc, Canadian dollar, and…

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