The gloom surrounding the US dollar looks like it's slowly starting to lift
Mario Tama/Getty Images
After months of selling, it appears that the gloom surrounding the US dollar is slowly starting to lift.
According to data released by the US Commodity Futures Trading Commission (CFTC), traders continued to buy the US dollar last week, extending the pattern seen in the previous two weeks.
“Leveraged funds were net buyers of USD for the third consecutive week,” said Khoon Goh, Head of Asia Research at ANZ Bank.
“Dollar demand was broad-based, with only the NZD not seeing net selling, though this was before the announcement that there would be a change in government.”
This chart from ANZ shows the change in net US dollar positioning from the CFTC data against the EUR, JPY, GBP, CHF, CAD, AUD and NZD since the start of 2014.
Read the original article on Business Insider Australia. Copyright 2017. Follow Business Insider Australia on Twitter.
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