Dollar net short bets climbed as Trump authorizes transition

US dollar bearish bets rose again reaching $24.31 billion from $21.83 billion against the major currencies during the one-week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to November 24 and released on Monday November 30. The deterioration of dollar sentiment was reflected in increase in bullish bets on Japanese yen, euro, Pound and Australian dollar as UK retail sales continued growing in October over month when a decline was expected. Dollar bearish bets rose as President Trump said he had told his team “do what needs to be done with regard to initial protocols” for White House transition as more states certified president-elect Joe Biden’s victory. The increase in dollar bearish bests resumed despite Markit’s flash Manufacturing PMI report showing the expansion in US manufacturing sector accelerated in November while it was expected to continue at a slower pace: the Manufacturing PMI rose to 56.7 from 53.4 when a decline to 52.5 was forecast.