NEW YORK (Reuters) - Speculators increased bullish bets on the U.S. dollar to the largest since mid-May last year, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.
The value of the net long dollar position was $11.03 billion in the week ended June 26, down from $8.64 billion the previous week. Speculators were net long dollars for a second consecutive week, after being short for 48 straight weeks.
U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars.
Reporting by Gertrude Chavez-Dreyfuss; Editing by Richard Chang