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By Vicki Schmelzer
     NEW YORK (MNI) - Speculative accounts decreased their net euro longs, their
net yen shorts and their net sterling shorts, according to data released Friday
by the Commodity Futures Trading Commission.
     The CFTC's Commitments of Traders report, non-commercial, futures-only
section, excluding options, showed speculators had a net euro long position of
+62,753 contracts as per Sept. 19, versus +86,058 contract last week.
     This compared to the net long of +96,309 contracts seen Sept. 5, which was
the largest net euro long in over six years. On May 3, 2011, speculators had a
net euro long of +99,516 contracts. 
     Betting on U.S. dollar outperformance in 2017, speculators had, up until
May 9, maintained a net euro short position all year.
     The record net short in the euro was -226,560 contracts, seen March 31,
2015, and the record net euro long was +119,538 contracts, seen May 15, 2007.
     Speculative accounts had a net yen short of -51,322 contracts as per Sept.
19, versus -57,297 contracts in the prior week.
     This compared to the net short of -126,919 contracts, seen July 18, which
was the largest net yen short since Jan. 7, 2014, when speculators had a net yen
short of -128,868 contracts. 
     The record net yen long position was +71,870 contracts, seen April 19, 2016
and the record net yen short position was -188,077 contracts, seen June 26,
2007.
     The euro closed near $1.1994 and dollar-yen near Y111.59 on Sept. 19 versus
levels late Friday around $1.1945 and Y112.08.
     The CFTC data showed that speculative accounts had a net sterling short of
-10,161 contracts as per Sept. 12, versus -46,085 contracts last week. This
compared to the net short of -107,844 contracts seen March 21, which was a new
record.
     Sterling closed at $1.3503 on Sept. 19 and held near $1.3526 late Friday. 
     On Wednesday, cable topped out at $1.3657, which was the highest since
early June 24, the day after Brexit, when the pair traded in a wide $1.3229 to
$1.5018 range.
     Given the run-up since Tuesday, sterling shorts may have been trimmed
further. 
--MNI New York Bureau; tel: +1 212-669-6438; email: vicki.schmelzer@marketnews.com
[TOPICS: M$U$$$,M$$FX$,MN$FX$]

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