Currency speculators boosted bets against the US dollar in the latest week to a five-week high, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar's net short position rose to $25.14 billion in the week ended June 14. That was the biggest net dollar short since early May and above the prior week's $22.98 billion net short position.
The Reuters calculation for the aggregate US dollar position is derived from the net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars. Long yen positions rose to their highest level since the week ending March 22. Speculators went long sterling, reversing a slight short position in the British currency in the week ending June 7.
A slate of weaker-than-expected US economic data and worries about US public finances have combined to weigh on the dollar in recent weeks. To be short a currency is to bet it will decline in value, while being long a currency is a bet its value will rise.
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