Saqib Iqbal Ahmad

NEW YORK (Reuters] – Speculators’ net long positions on the U.S. currency edged up in the last week according to data from Reuters, U.S. Commodity Futures Trading Commission and calculations done by Reuters.

For the week ending March 8, the value of the total net long dollar position reached $5.44 trillion. The net long position of speculators was $5.12 Billion last week. This is the lowest point since mid-August 2021.

U.S. dollar position was calculated from net contracts in international Monetary Market speculators for the Japanese yen and euro as well as British pound and Swiss franc.

The greenback had a net position of $3.88 Billion, up from the previous week’s $3.84 Billion.

The fallout from the Russia-Ukraine has boosted the dollar, upending investor expectations for a weaker greenback as geopolitical uncertainty and worries over European growth raise the U.S. currency’s appeal.

In 2021, the dollar rose 6.3% against other currencies. It has increased by 3.6% in 2018

The net position of speculators on the euro fell to 58.844 contracts from 64.939 last week.

After Russia’s attacks and subsequent financial sanctions against Russia, net longs for the Russian ruble were reduced to 9,674 contracts. This is the lowest level since January.

Japanese Yen (Contracts for 12,500,000 yen).

$6.37 billion

08

Week of Mar 2022 Prior to Week

15,548 14,665

Long

71,404 83,397

Short

-55,856 -68,732

Internet

EURO (Contracts for 125,000 Euros)

$-8.017 trillion

08

Week prior to Mar 20,22

242,683 228,385

Long

183,839 163,446

Short

58,844 64,939

Internet

POUNDSTERLING (Contracts for 62,500 Pound Sterling)

$1.0226 Billion

08

Week prior to Mar 20,22

50,982 47,679

Long

63,508 48,016

Short

-12,526 -337

Internet

SWISSFRANC (Contracts for 125,000 Swiss Francs

$1.307 billion

08

Week prior to Mar 20,22

4,856 1,651

Long

14,566 16,899

Short

-9,710 -15,248

Internet

CANADIAN DOLLAR – Contracts worth 100,000 Canadian dollars

$-0.594 trillion

08

Week prior to Mar 20,22

48,492 50,881

Long

40,846 36,741

Short

7,646 14,140

Internet

AUSTRALIAN DOLLAR (Contracts up to 100,000 Dollars)

$5.682 Billion

08

Week prior to Mar 20,22

19,521 12,720

Long

97,716 91,056

Short

-78,195 -78,336

Internet

MEXICANPESO (Contracts for 500,000 Pesos).

$-1.241 trillion

08

Week of Mar 20,22 Prior to Week

76,020 74,971

Long

23,003 32,593

Short

53,017 42,378

Internet

NEW ZEALAND DOLLAR (Contracts for 100,000 New Zealand Dollars)

0.842 trillion

08

Week prior to Mar 20,22

15,775 10,485

Long

28,154 24,657

Short

-12,379 -14,172

Internet