Dollar net short bets climbed on dismal jobs report

US dollar bearish bets increased again - at more than double of last week’s pace, reaching $29.03 billion from $25.74 billion against the major currencies during the one-week period, according to the report of the Commodity Futures Trading Commission (CFTC) covering data up to December 8 and released on Friday December 11. The continued deterioration of dollar sentiment was reflected in increase in bullish bets on euro and Pound as German retail sales rebounded 2.6% over month in November when 1.3% growth was expected after factory orders rose 2.9% over month in October when 1.4% growth was expected. The increase in dollar bearish bests accelerated as US Bureau of Labor Statistics reported the US economy added the fewest workers in six months in November, with nonfarm payrolls increasing by 245,000 jobs last month after 610,000 new jobs were added in October. The unemployment rate, however, matched expectations by falling to 6.7% from 6.9%.