Dollar strengthened as Turkish lira crisis unfolded

August 20, 2018

By IFCMarkets

US dollar short bets fell last week to $21.34 billion from $22.02 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to August 14 released on Friday August 17. The dollar strengthening accelerated as the demand for dollar increased against the backdrop of Turkish lira crisis following doubling of US tariffs on steel and aluminum.

 

CFTC Sentiment vs Exchange Rate

August 14 2018 Bias Ex RateTrend Position $ mln Weekly Change
CAD bearish negative -201 -9
AUD bearish positive -3748 298
EUR bearish positive -254 -1785
GBP bearish positive -4828 -70
CHF bearish negative -5768 21
JPY bearish positive -6561 489
Total -21359

 

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