Specs reduce long US dollar bets to lowest since Nov 2011-CFTC
NEW YORK, Aug 17 (Reuters) - Currency speculators further pared bets in favor of the U.S. dollar in the latest week to the lowest since November 2011, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position fell to $8.92 billion in the week ended Aug. 14, from $11.7 billion the previous week. It was the fourth straight decline in U.S. dollar longs and was the smallest net long position in about nine months. To be long a currency is to bet it will rise in value, while being short is a view its value will fall. 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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