Currency speculators sharply decreased 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 to $3.94 billion in the week ended September 6, from $14.62 billion a week earlier.
Speculators cut long bets in the Japanese yen and Swiss franc in the latest week. They also sharply increased bets against the euro, with a net short position of 36,443 contracts from 384 contracts the previous week, the CFTC 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.
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