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Specs keep extending bets on USD longs - TDS

FXStreet (Bali) - According to the CFTC Commitments of Traders Report, for the week ending Tuesday, October 7th, investors and speculative accounts continue to extend their bets on an appreciating USD, notes TDS.

Key Quotes

"CFTC data for currency futures through the week ending on October 7th showed that investors and speculative accounts continue to extend their bets on an appreciating USD."

"The latest Commitments of Traders report shows an increase in implied net USD longs to $41.2bn from $37.6bn the week prior. This is the largest bullish bet on the greenback going back to 2007."

"Net AUD shorts were the instrument of choice of speculative investors to express their growing optimism on the USD's outlook, as net shorts on the currency were extended to -26.5K from -2.0K net shorts the week prior — the largest net Aussie short since early-March."

"In turn, net EUR shorts were also extended from -137.5K to -146.2K, which, albeit significant, remains smaller in magnitude than the net shorts seen early last month, and well below the –214K net shorts of June 2012."

"GBP saw a reversal to a small net short position equivalent to -1.1K contracts from +3.6K net longs prior, whereas JPY net shorts were scaled back from -121K to -112.5K."

·Net CAD shorts were extended to -7.5K from -4.6K, and NZD, MXN, and CHF registered minor changes in overall positioning.

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