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Data: Speculation On US Dollar - Bearish Bets Increasing

US Dollar Bearish
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EDITOR NOTE: As a physical precious metals investor, you may not be that familiar with the Commitment of Traders (COT) report published by the U.S. Commodity Futures Trading Commission. This report tells you the overall positions that speculators, institutions and commercial producers are taking in the commodity futures markets. As of Friday, speculators are net bearish on the dollar. They’re betting that “cash certainly ain’t king.” Though not much of a surprise, it potentially signals a bullish market for gold and silver, as both tend to move inversely to the dollar. Just another piece of data to confirm that you’re invested in the right safe haven assets.

NEW YORK (REUTERS) - Speculators' net bearish bets on the U.S. dollar grew in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday.

The value of the net short dollar position was $9.51 billion for the week ended June 9, compared with a net short position of $8.17 billion for the week before that.

The net short position was the largest bearish position speculators have held in six weeks, the data showed.

U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the Japanese yen, euro, British pound, Swiss franc and Canadian and Australian dollars.

 

Originally posted on USNews

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All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.

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