NEW YORK, Oct 20 (Reuters) - Speculators trimmed their bearish bets on the U.S. dollar in the latest week to the smallest position in more than a month, but retained a significantly negative bias against the greenback, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.
The value of the dollar’s net short position, derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars, was $12.65 billion, in the week to Oct. 17.
That compares with a net short position of $15.42 billion the previous week and marks the fourteenth straight week that investors have had a net short position on the greenback.
To be short a currency means traders believe it will fall in value.
Meanwhile, the net short position in the Japanese yen was at the largest since early August, the data showed.
Reporting by Saqib Iqbal Ahmed; Editing by James Dalgleish