By IFCMarkets

US dollar bullish bets increase accelerated to $11.34 billion from $10.50 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 14 and released on Friday April 17. The change in overall dollar position was due to increase in bullish bets on euro, British Pound and Swiss franc, while bearish bets on Canadian and Australian dollars were cut further as they maintained net short positions against the dollar. Bearish dollar bets rose as the Federal Reserve announced a new lending program to provide $600 billion support for midsize businesses and $500 billion for states, counties and cities. Another negative factor was record numbers of initial jobless claims as the Labor Department reported 6.6 million Americans filed for unemployment insurance for the first time in one week.

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