Dollar net short bets increase reversed on positive US reports

US dollar bearish bets declined to $13.89 billion from $16.93 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 30 and released on Monday July 6. The change in net short dollar bets was mainly the result of significant increase in Pound bearish bets and decrease in bullish bets on yen and euro as German import prices recovery was slower than anticipated in May. The Pound, Canadian and Australian dollars maintained net short positions against the dollar. The bearish dollar bets fell as US Census Bureau reported durable goods orders rose above expected 15.8% over month in May and consumer spending climbed to a record 8.2% after tumbling in April. Chicago Fed President Charles Evans’ comment the US economy may require more monetary stimulus didn’t result in increase in dollar bearish bets.