Speculators cut long US dollar bets in latest week-CFTC

Fri Jun 14, 2013 3:49pm EDT
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NEW YORK, June 14 (Reuters) - Currency speculators cut their bets in favor of the U.S. dollar for the second straight week 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 fell to $28.28 billion in the week ended June 11, from $39.12 billion the previous week.

Since the data was collated Tuesday it pre-dates the market volatility of the last three days.

Net short positions on the Japanese yen declined to 72,906 contracts from 82,744 the week before. In the week of May 28, net short contracts posted at 99,769 contracts, the highest in nearly four years using Reuters data.

Euro net shorts declined to 7,533 contracts from 51,621 contracts in the prior week. That change accounted for a large component of the change in dollar value of U.S. net long positions.

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) 9,491,980,002.08

6/11/13 week 6/04/13 week   Continued...