Speculators cut long U.S. dollar bets in latest week-CFTC

Fri Jun 7, 2013 3:47pm EDT
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NEW YORK, June 7 (Reuters) - Currency speculators decreased their bets in favor of the U.S. dollar for the first time in five weeks in the latest week, according to data from the Commodity Futures Trading Commission released on Friday.

The value of the dollar's net long position fell to $39.12 billion in the week ended June 4. Long dollar bets stood at $43.77 billion the previous week, the highest since at least June 2008.

To be short a currency is to bet it will decline in value, while being long is a view its value will rise.

The Reuters calculation for the aggregate U.S. dollar position is derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars.