Dollar bearish bets rise after dismal jobs report

By IFCMarkets

US dollar net short bets increase slowed to $10.50 billion from $9.89 billion against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to April 7 and released on Monday April 13. The change in overall dollar position was due to increase in bullish bets on British Pound and Swiss franc, while bearish bets on Canadian and Australian dollars were cut as they maintained net short positions against the dollar. Bearish dollar bets rose as the Federal Reserve announced about a $2.3 trillion expansion of its financing program with its commercial security funding facility beginning on April 14 to purchase commercial securities issued by corporations, banks and municipalities. At the same time the Labor Department’s dismal jobs report indicated more than expected 701,000 Americans lost their jobs in March.

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