May 17, 2013 / 7:54 PM / in 5 years

Long USD bets rise to 11-month high in latest week-CFTC

NEW YORK, May 17 (Reuters) - Currency speculators increased their bets in favor of the U.S. dollar to the highest in 11 months 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 rose to $32.27 billion in the week ended May 14, the highest since mid-June, 2012, from $26.83 billion in 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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