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US CFTC: Specs Increase Net Euro Longs, Net Yen Shorts 

- Specs Flip To Net Cable Long, First Since Early November
By Vicki Schmelzer
     NEW YORK (MNI) - Speculative accounts increased their net euro longs and
their net yen shorts and flipped from a net sterling short to a net sterling
long, 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
+88,167 contracts as per Sept. 26, versus +62,753 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 -71,347 contracts as per Sept.
26, versus -51,322 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 $1.1793 and dollar-yen near Y112.24 on Sept. 26,
versus levels late Friday around $1.1822 and Y112.50.
     The CFTC data showed that speculative accounts had a net sterling long of
+5,054 contracts as per Sept. 26, versus -10,161 contracts last week. This
week's net long, the first net sterling long since early November, compared to
the net short of -107,844 contracts seen March 21, which was a new record.
     Sterling closed at $1.3458 on Sept. 26 and held near $1.3416 late Friday.
     This will be the last weekly CFTC update for MNI's Main Wire. Please
contact sales@marketnews.com with any questions or concerns.  
--MNI New York Bureau; tel: +1 212-669-6438; email: vicki.schmelzer@marketnews.com
[TOPICS: M$U$$$,M$$FX$,MN$FX$]
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