Dollar weakened as Powell bolstered rate cut hopes


US dollar bullish bets declined continued to $21.75 billion from $22.60 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 25 and released on Friday July 1. The dollar weakened after weak as the Federal Reserve left interest rates unchanged but indicated it would “act as appropriate to sustain the expansion”.


CFTC Sentiment vs Exchange Rate

June 25 2019BiasEx RateTrendPosition $ mlnWeekly Change
CADbearishpositive-11231724
AUDbearishpositive-4653-194
EURbearishnegative-8000-676
GBPbearishnegative-4674-550
CHFbearishnegative-2112-178
JPYbearishnegative-1184725
  Total-21745