August 2, 2013 / 7:43 PM / 4 years ago

Speculators cut long USD bets in latest week-CFTC

NEW YORK, Aug 2 (Reuters) - Currency speculators decreased their bets in favor of the U.S. dollar 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 $24.45 billion in the week ended July 30, from $28.69 billion the previous 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.

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