NEW YORK, July 29 (Reuters) - Speculators raised bullish U.S. dollar bets this week to the highest in nearly five months, as investors were encouraged by a continued string of strong U.S. economic data that reinforced expectations of an interest rate hike from the Federal Reserve in 2016.
The value of the dollar’s net long position increased to $13.66 billion in the week ended July 26 from $10.42 billion the previous week, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday.
That was the highest since Feb. 2. The week ended prior to the release of Friday’s weak U.S. gross domestic product data. (Reporting by Dion Rabouin; Editing by Meredith Mazzilli)