February 7, 2020 / 9:35 PM / in 18 days

Funds, speculators amass biggest bearish bet on Brazil's real this year - CFTC data

BRASILIA, Feb 7 (Reuters) - Funds and speculators on U.S. futures markets increased their bets on the Brazilian real weakening further, Commodity Futures Trading Commission data showed on Friday, the third week in a row they have done so.

That was the longest run in almost four months of adding to their net short positions, effectively betting that the currency will depreciate. During the week, the real slumped to a fresh all-time low against the dollar.

Funds expanded their net short position as of Feb. 4 to 30,336 contracts from 23,624 contracts the week before, CFTC data showed, the biggest collective bet so far this year against the real.

The record net short position since CFTC launched real futures in 2011 was 51,274 contracts in early December last year.

The current net short position may have been increased further. On Friday, the real chalked up its sixth weekly decline in a row to hit a record low under 4.30 per dollar, and is now down 7% this year. (Reporting by Jamie McGeever; Editing by David Gregorio)

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