Will Doge Hit A Dollar 2021

© Reuters. Signage is seen outside of the U.s.a. Article Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly/File Photo

NEW YORK (Reuters) – Speculators raised net short U.S. dollar positioning in the latest week to its largest level since July 2021, according to calculations by Reuters and U.S. Article Futures Trading Commission data released on Mon.

The value of the cyberspace short dollar position hit $ane.82 billion in the week ended Nov. 22 from a internet brusque of $10.5 million in the previous week. Speculators have been net curt the dollar for a 2nd straight week.

Investors take flipped their net long dollar positions, anticipating weakness in the U.S. currency on expectations that the Federal Reserve will boring the pace of involvement rates increases afterward raising them by 75 footing points multiple times.

Concluding week, the dollar vicious another 0.9%. For the month of November, the has then far dropped about iv.3%, on rails for its largest monthly fall since September 2010.

However, record COVID cases in Red china and citizens protesting confronting the country’south nada-COVID rules have increased safety-haven flows to the U.S. dollar.

“The (dollar index) has certainly shown some signs of life around its 200-day average and support in the 1.0500-1.0540 area. Merely information technology is far as well early to say whether this will plow into a full-on rally,” wrote Fawad Razaqzada, market analyst at City Index and Forex.com in London, in a research notation.

He added that 200-day moving average is a primal support and the dollar is still within a long-term bull trend.

“After the contempo sell-off, the downside risks have now diminished in my view,” said Razaqzada.

The increase in net short dollar positioning came as euro cyberspace longs soared to 123,112 contracts, the highest since Feb 2021.

In the cryptocurrency market, cyberspace longs on bitcoin futures rose to 706, the highest since the week of Oct. eleven, CFTC data showed. Speculators accept been net long bitcoin for a third straight week.

The increment in cyberspace longs on bitcoin came every bit the crypto market place grappled with the fallout from the collapse of crypto exchange FTX when it filed for bankruptcy a few weeks ago.

U.Due south. cryptocurrency lender BlockFi said on Monday information technology had filed for Chapter xi defalcation protection along with eight affiliates in a New Jersey court.

was last down 1.31% at $16,209. Since the beginning of the twelvemonth, bitcoin has plunged 65%.

Japanese Yen (Contracts of 12,500,000 yen)

$5.909 billion

22 Nov 2022 Prior week

week

Long 30,800 33,797

Brusque 95,650 99,639

Net -64,850 -65,842

EURO (Contracts of 125,000 euros)

$-fourteen.573 billion

22 Nov 2022 Prior week

week

Long 239,598 239,369

Short 116,486 126,703

Net 123,112 112,666

POUND STERLING (Contracts of 62,500 pounds sterling)

$2.433 billion

22 Nov 2022 Prior week

week

Long 30,917 34,699

Short 66,859 67,533

Net -35,942 -32,834

SWISS FRANC (Contracts of 125,000 Swiss francs)

$2.228 billion

22 Nov 2022 Prior calendar week

week

Long one,910 2,271

Short sixteen,386 19,098

Net -14,476 -16,827

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

$0.973 billion

22 Nov 2022 Prior week

calendar week

Long 36,733 37,456

Brusk 48,405 50,376

Net -xi,672 -12,920

AUSTRALIAN DOLLAR (Contracts of 100,000 dollars)

$3.023 billion

22 Nov 2022 Prior week

week

Long 32,825 33,214

Brusk 75,611 77,963

Internet -42,786 -44,749

MEXICAN PESO (Contracts of 500,000 pesos)

$-ane.753 billion

22 Nov 2022 Prior calendar week

calendar week

Long 188,446 197,700

Short 125,127 129,849

Cyberspace 63,319 67,851

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)

$0.408 billion

22 Nov 2022 Prior week

week

Long xv,536 15,285

Brusque xix,820 21,913

Internet -4,284 -vi,628