The Globe and Mail
Published Monday, Mar. 24 2014, 9:54 AM EDT
Last updated Monday, Mar. 24 2014, 2:29 PM EDT
Short positions rise
Bets against the Canadian dollar are surging again.
According to the latest report from the U.S. Commodities Futures Trading Commission, the net short position for the loonie, as Canada’s dollar coin is known, stood at $6.3-billion, up by almost $1.6-billion from a week earlier.
The CFTC reports the data every Friday, though the numbers are based on a Tuesday reading, which means the latest report includes the day Bank of Canada Governor Stephen Poloz knocked the loonie down by suggesting the door remains open to a cut in interest rates.
The numbers do not, however, encompass whatever action followed last Wednesday, when Federal Reserve chair Janet Yellen added fuel to that fire with the suggestion that interest rates could rise sooner than expected.
The combined effect of that sent the loonie tumbling.
Read more: Bets against the Canadian dollar surge again