Dollar weakened as Powell bolstered rate cut hopes

July 1, 2019

By IFCMarkets

US dollar bullish bets declined continued to $21.75 billion from $22.60 against the major currencies during the one week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to June 25 and released on Friday July 1. The dollar weakened after weak as the Federal Reserve left interest rates unchanged but indicated it would “act as appropriate to sustain the expansion”.

 

CFTC Sentiment vs Exchange Rate

June 25 2019 Bias Ex RateTrend Position $ mln Weekly Change
CAD bearish positive -1123 1724
AUD bearish positive -4653 -194
EUR bearish negative -8000 -676
GBP bearish negative -4674 -550
CHF bearish negative -2112 -178
JPY bearish negative -1184 725
Total -21745

 

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