October 25, 2013 / 7:57 PM / in 4 years

Speculators cut long U.S. dollar bets in week ended Oct. 1-CFTC

NEW YORK, Oct 25 (Reuters) - Currency speculators decreased their bets in favor of the U.S. dollar to the lowest since February in the week ended Oct. 1, according to data from the Commodity Futures Trading Commission released on Friday.

The value of the dollar’s net long position fell to $692.8 million the week ended Oct. 1, the smallest since the week ended Feb. 19. In the previous week, long dollar bets stood at $3.58 billion.

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.

The release of weekly speculative positioning data has been delayed because of a partial shutdown of the U.S. government earlier this month.

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