Dollar bullish bets rise as US-China tariffs take effect2nd October 2018
US dollar net bullish bets rose last week to $23.17 billion from $22.98 billion against the major currencies during the previous week, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to September 25 and released on Friday September 28. The dollar bullish bets rose as US and Chinese reciprocal tariffs took effect on $200 billion worth of Chinese goods counterweighed by $60 billion in tariffs on US goods by China. Acceleration of manufacturing activity expansion in September as evidenced by increase in Markit’s Manufacturing PMI also supported dollar sentiment.
CFTC Sentiment vs Exchange Rate
|September 25 2018||Bias||Ex RateTrend||Position $ mln||Weekly Change|
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