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Live Forex News NEW YORK (Reuters) - Watchers in favor bets on the U.S. dollar for one month straight with net profits hitting their highest in more than nine months. according to Reuters data Commodity Futures Trading Commission released this week.
The value of the dollar long position rose to $14.69 billion week ended October 11 2016, from $10.49 billion the previous week seen.
The dollar has been underpinned
The dollar has been underpinned by recent U.S. economic data of rate hikes by the Fed Reserve at its Dec monetary policy meetings.
Australian U.S. dollar net long position: 26,111
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The U.S. retail sales data showed a 0.9 percent rise last month after declining 0.8 percent in August 2016 supported the dollar's gains.
EUR/USD dropped 0.41% to 1.1018, close to Thursday’s more than two-month trough of 1.0984.
In a preliminary report, the University of Michigan said its consumer sentiment index fell to 87.3 in October from 91.9 the previous month, disappointing expectations for a rise to 91.4.
The data came after another report showed that U.S. retail sales rose 0.6% in September, in line with expectations and after a revised 0.6% fall the previous month.