U.S. dollar net longs climb to highest since early March 2020 -CFTC, Reuters

    (Corrects dollar positioning to net long in 2nd paragraph)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, July 30 (Reuters) - U.S. dollar net longs rose in
the latest week to their highest level since early March last
year, according to Reuters calculations and Commodity Futures
Trading Commission data released on Friday.
    The value of the net long dollar position advanced to $2.99
billion in the week ended July 27, from net longs of $399.69
million the previous week. U.S. dollar positioning flipped to
net longs last week after being net short for 16 months.
    U.S. dollar positioning was derived from net contracts of
International Monetary Market speculators in the Japanese yen,
euro, British pound and Swiss franc, as well as the Canadian and
Australian dollars.
   In a broader measure of dollar positioning that
includes net contracts on the New Zealand dollar, Mexican peso,
Brazilian real and Russian ruble, the greenback posted a net
long position of $2.88 billion this week, compared with net
longs of $222 million the week before.
    The dollar has gained ground the last few weeks on
safe-haven bids on concerns about the fast-spreading Delta
coronavirus variant and worries about China's economy, said
Jonas Goltermann, senior markets economist, at Capital
Economics.
    Both factors remain "wildcards that may keep the dollar
strong near term."
    For the month of July, however, the dollar index posted a
minor 0.2% decline after rising 2.8% in June.
    The rise in dollar longs came as longs on the euro and
Canadian dollar declined, data showed.
    In the cryptocurrency market, bitcoin net shorts rose to
1,572 contracts in the week ended July 27, from net shorts of
1,192 the previous week.
    Bitcoin's bullish momentum has lost steam the last few
months amid a wave of global regulatory crackdown on the crypto
sector. After hitting $40,000 this week, bitcoin was unable to
surge higher. It was last up 0.3% at $40,124.
    Since hitting an all-time high of just under $65,000 in
mid-April, bitcoin has fallen about 38%.

    Japanese Yen (Contracts of 12,500,000 yen)
 $6.826 billion
         27 Jul 2021            Prior week
         week
 Long             32,975            35,474
 Short            92,909            91,205
 Net             -59,934           -55,731

EURO (Contracts of 125,000 euros)
 $-5.63 billion
         27 Jul 2021            Prior week
         week
 Long            202,245           208,669
 Short           164,119           162,847
 Net              38,126            45,822

POUND STERLING (Contracts of 62,500 pounds sterling)
 $0.493 billion
         27 Jul 2021           Prior week
         week
 Long             41,194           44,223
 Short            46,878           47,720
 Net              -5,684           -3,497

SWISS FRANC (Contracts of 125,000 Swiss francs)
 $-1.161 billion
         27 Jul 2021           Prior week
         week
 Long             18,262           18,061
 Short             9,773           10,019
 Net               8,489            8,042

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
 $-0.427 billion
         27 Jul 2021           Prior week
         week
 Long             47,048           59,883
 Short            41,674           46,968
 Net               5,374           12,915

AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
 $2.896 billion
         27 Jul 2021           Prior week
         week
 Long             57,415           57,072
 Short            96,762           92,762
 Net             -39,347          -35,690

MEXICAN PESO (Contracts of 500,000 pesos)
 $0.661 billion
         27 Jul 2021           Prior week
         week
 Long             65,404           66,141
 Short            91,811           94,562
 Net             -26,407          -28,421

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
 $-0.099 billion
         27 Jul 2021           Prior week
         week
 Long             19,505           20,671
 Short            18,084           17,625
 Net               1,421            3,046

 (Reporting by Gertrude Chavez-Dreyfuss; editing by Diane Craft
and David Gregorio)

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