IMM Currency Specs maintained massive net short Euro bets, latest CFTC data shows

-Seventh straight week of net long US dollar bets.

-Large Specs maintaining massive bets net short Euro.

-EU sovereign debt crisis continues to dominate currency news.

-BOJ intervened to stem Yen strength, after Yen made new all time high against the dollar.

CFTC data released Friday October 28th shows IMM currency speculators decreased bets long the US dollar by 39.97% from $14.86 billion to $8.92 billion in the week ending Tuesday October 25th. The most recent Commitments of Traders data shows some significant percentage changes in speculative positions in the currencies from the prior week including the following:

A massive 101.72% increase from 26,907 to 54,279 contracts net long of the Yen;

A minor 1.55% decrease from 77,720 to 76,512 contracts net short of the Euro, (a massive net short position);

A small 5.78% decrease from 53,226 to 50,147 contracts net short of the British Pound;

A nearly halving 46.36% decrease from 2,243 to 1,203 contracts net short of the Swiss Franc;

A significant 27.71% decrease from 24,795 to 17,923 contracts net short of the Canadian dollar;

And a building 13.35% increase from 20,353 to 23,071 contracts net long of the Australian dollar, indicating large speculators may be returning to long Aussie bets which they held thru much of 2011.

Commitments of Traders Data