Speculators raise USD bets for 4th straight week -CFTC and RTRS
NEW YORK May 31 (Reuters) - Currency speculators raised their bets in favor of the U.S. dollar for the fourth straight week and to the highest since at least June 2008 in the latest period, according to data from the Commodity Futures Trading Commission released on Friday.
The value of the dollar's net long position rose to $43.77 billion in the week ended May 28, from $41.0 billion the previous week.
It was the fourth week of rising net bets on the dollar and the highest in dollar terms since Reuters started tracking the greenback's overall positioning in the speculative market in mid-June 2008.
Speculators boosted or raised net-short positions in the yen to 99,769 contracts, from 95,186 contracts the previous week. The data reflect trading after an unexpected selloff in Japanese stocks pushed the yen higher on safe haven flows on May 23.
Data is collated through Tuesday for the previous week and released the following Friday. Events impacting the yen trade since Tuesday this week are not reflected in the data.
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) 12,183,592,223.52 Continued...