Dollar weakens despite tax bill’s Senate approval

US dollar bearish bets increased further to $4.28 billion from $3.94 against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to December 5 released on Friday December 8. Dollar sentiment deteriorated marginally despite the Senate approval of the Republican tax bill and the upgrade of the Q3 GDP to 3.3% from 3.0% first estimate.


CFTC Sentiment vs Exchange Rate

December 05 2017BiasEx RateTrendPosition $ mlnWeekly Change
CADbullishnegative3347-217
AUDbullishnegative3066112
EURbullishnegative13763485
GBPbullishnegative537155
CHFbearishnegative-374591
JPYbearishnegative-12693-286
  Total4275 

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