UPDATE 1-Speculators trim long U.S. dollar bets in latest week-CFTC

Fri Jun 7, 2013 4:02pm 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.
    Speculators have pushed bets in favor of the U.S. currency to extended
levels in recent weeks on expectations the Federal Reserve will soon begin to
scale back its asset purchases as the economy improves.
    But those hopes faded a bit after the release of weak manufacturing data
earlier this week.
    Short positions on the Japanese yen, euro and Swiss franc declined, while
bearish sentiment on the Australian dollar increased, the CFTC data showed.
Speculators also increased bets against the British pound and Canadian dollar in
the latest week.
    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.
    
        JAPAN YEN (Contracts of 12,500,000 yen) 
             6/4/13 week         5/28/13 week
   Long          19,176               18,406
   Short        101,920              118,175
   Net          -82,744              -99,769
 
         EURO (Contracts of 125,000 euros) 
             6/4/13 week         5/28/13 week
   Long          43,804               36,916
   Short         95,425              121,560
   Net          -51,621              -84,644
 
    POUND STERLING (Contracts of 62,500 pounds sterling) 
             6/4/13 week         5/28/13 week
   Long          26,666               36,221
   Short        104,404              110,746
   Net          -77,738              -74,525
 
    SWISS FRANC (Contracts of 125,000 Swiss francs) 
             6/4/13 week         5/28/13 week
   Long           5,871                7,936
   Short         31,674               36,908
   Net          -25,803              -28,972
 
    CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) 
             6/4/13 week         5/28/13 week
   Long          22,351               28,298
   Short         62,127               61,657
   Net          -39,776              -33,359
 
    AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) 
             6/4/13 week         5/28/13 week
   Long          32,853               42,213
   Short         91,403               84,520
   Net          -58,550              -42,307
 
    MEXICO PESO (Contracts of 500,000 pesos) 
             6/4/13 week         5/28/13 week
   Long          94,630              126,130
   Short         11,759                5,266
   Net           82,871              120,864
 
    NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars)
             6/4/13 week         5/28/13 week
   Long          11,700               19,666
   Short          5,687                5,655
   Net            6,013               14,011