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UPDATE 1-Speculators trim bullish bets on U.S. dollar -CFTC, Reuters

By Kate Duguid

(Adds broader positioning, table) By Kate Duguid NEW YORK, June 7 (Reuters) - Speculators reduced their bullish bets on the U.S. dollar in the latest week to the smallest position since early April, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday. The value of the dollar's net long position, derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars, was $33.32 billion in the week to June 4. That compares with a net long position of $34.61 billion the previous week. The U.S. speculative community has been net long dollars since mid-July last year. In a wider measure of dollar positioning that includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian ruble, the U.S. dollar posted a net short position valued at $30.97 billion, down from $31.33 billion, a week earlier. The CFTC data, which captures positioning through Tuesday, reflects the 0.9% fall in the dollar index over that period on increased expectations that the Federal Reserve will cut interest rates in 2019. Fed Chair Jerome Powell dropped his standard reference to the Fed being "patient" in approaching any rate decision on Tuesday, saying instead the central bank will respond as "as appropriate" to trade pressure. Since Tuesday two disappointing employment data reports have driven the dollar index another half a percent lower. Japanese Yen (Contracts of 12,500,000 yen) $5.131 billion June 4, 2019 Prior week week Long 27,437 25,803 Short 71,826 81,380 Net -44,389 -55,577 EURO (Contracts of 125,000 euros) $12.313 billion June 4, 2019 Prior week week Long 155,771 151,129 Short 243,322 250,820 Net -87,551 -99,691 POUND STERLING (Contracts of 62,500 pounds sterling) $3.79 billion June 4, 2019 Prior week week Long 41,998 51,796 Short 89,760 83,792 Net -47,762 -31,996 SWISS FRANC (Contracts of 125,000 Swiss francs) $4.545 billion June 4, 2019 Prior week week Long 4,541 4,644 Short 40,606 39,319 Net -36,065 -34,675 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) $3.119 billion June 4, 2019 Prior week week Long 15,330 15,878 Short 57,089 55,301 Net -41,759 -39,423 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) $4.424 billion June 4, 2019 Prior week week Long 36,304 38,653 Short 99,595 105,046 Net -63,291 -66,393 MEXICAN PESO (Contracts of 500,000 pesos) $-3.176 billion June 4, 2019 Prior week week Long 172,354 213,758 Short 48,125 71,291 Net 124,229 142,467 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) $1.347 billion June 4, 2019 Prior week week Long 23,476 24,986 Short 43,872 41,134 Net -20,396 -16,148 (Reporting by Kate Duguid Editing by Susan Thomas and Tom Brown)