Currency speculators raised their bets in favour of the US dollar in the latest week to their largest in a month, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position rose to $10.13 billion in the week ended November 15, from $6.23 billion the previous week.
The Reuters calculation for the aggregate US dollar position is derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars. Short euro bets increased to 76,147 contracts from 54,257 the week before. This week's short euro positions were the highest since late October. To be short a currency is to bet it will decline in value, while being long is a view its value will rise.
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