Traders’ bullish bets on the dollar hit their highest level since 2014 ahead of Fed decision, CFTC says
Noncommercial traders’ bullish bets on the U.S. dollar rose to $49.23 billion in the week through July 28, the highest level since 2014, according to data released Friday by the Commodity Futures Trading Commission. The report reflects positions as of Tuesday, before the latest Federal Reserve interest-rate decision, sharp swings in U.S. interest rates and the dollar, and the yen’s rise amid speculation about foreign-exchange intervention. Leveraged funds increased their short positions in the yen, with their bearish positioning still near its highest level since 2007. The funds also added to their short bets against the euro, taking bearish positioning to its highest level since 2020. Their bearish positioning in the Canadian dollar also rose to its highest level in about two years.
The report reflects positions as of Tuesday, before the latest Federal Reserve interest-rate decision, sharp swings in U.S. interest rates and the dollar, and the yen’s rise amid speculation about foreign-exchange intervention.
Leveraged funds increased their short positions in the yen, with their bearish positioning still near its highest level since 2007. The funds also added to their short bets against the euro, taking bearish positioning to its highest level since 2020. Their bearish positioning in the Canadian dollar also rose to its highest level in about two years.