Speculators cut bets against dollar

Currency speculators reduced bets against the US dollar in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position fell slightly to $14 billion in the week ended July 19, from $14.2 billion a week earlier. Most of the move was accounted for by a decrease in bets in favour of the euro, the data showed.
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. To be short a currency is to bet it will decline in value, while being long is a bet its value will rise.