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The Gist
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Global Philippines Fine Living
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INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
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2024 Mid-Year Economi Briefing, economic growth in the Philippines
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June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
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Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
May 29, 2025 DOWNLOAD
economy-ss-9
Economic Updates
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May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
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Currencies 2 MIN READ

Strong will to sell dollars but little supply

August 11, 2022By Reuters
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Aug 11 (Reuters) – There is a strong will to sell dollars following softer US inflation data with the greenback falling a long way in short period, but because bets on a rise are modest there is a limited supply of dollars to sell before traders must turn short.

This is an issue because conditions that warrant profit taking (long liquidation) do not support establishing short positions which would require a more dramatic bigger change in either techs or fundamentals which continue to support dollar’s long-term appreciation.

On Aug. 2 traders were long 17.27 billion dollars with roughly 4 billion bet against JPY, EUR, GBP and AUD. A big bet for EUR/USD would mean at least 20 billion dollars or 15 billion for USD/JPY.

GBP and AUD bets are larger compared to prior extremes and given the boost for risk appetite evidenced by stocks after CPI, a bigger unwind of AUD shorts and outperformance for Australia’s currency is possible.

The net bet on USD rising at 17 billion is less than one third of longs established during Fed’s last tightening cycle in 2015, it’s quite small.

Bets against Asia currencies were significantly reduced before yesterday’s data.

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

 

This article originally appeared on reuters.com

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