Specs turn long US dollars, 1st time in 2 months-CFTC, Reuters

Fri Nov 9, 2012 8:56pm GMT

Nov 9 (Reuters) - Currency speculators favored the U.S. dollar for the first time since early September, according to data from the Commodity Futures Trading Commission released on Friday.

The value of the dollar's net long position totaled $1.296 billion in the week ended Nov. 6, from net shorts of around $710 million the previous week. This was the first net long position for the greenback in two months.

To be long a currency is to bet it will increase in value, while being short is a view its value will decline.

The Reuters calculation for the aggregate U.S. dollar position is derived from net positions of International Monetary Market speculators in the yen, euro, sterling, Swiss franc, Canadian and Australian dollars.