Speculators raise USD bets in latest week-CFTC

Fri May 10, 2013 3:42pm EDT
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NEW YORK May 10 (Reuters) - Currency speculators raised their bets in favor of the U.S. dollar in the latest week to the highest in nearly a year, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday.

The value of the dollar's net long position rose to $26.829 billion in the week ended May 7, from $24.49 billion the previous week. It was the highest since the dollar's net long dollar position was $38.77 billion in the week ending June 12, 2012.

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.

JAPANESE YEN (Contracts of 12,500,000 yen) 9,919,191,919.19

5/07/13 week 4/30/13 week

Long 27,886 24,872

Short 106,446 95,999   Continued...