NEW YORK, Aug 16 (Reuters) - Currency speculators pared their bets in favor
of the U.S. dollar for a fourth consecutive week, according to data from the
Commodity Futures Trading Commission released on Friday.
The value of the dollar's net long position fell to $17.62 billion in the
week ended Aug. 13 from $21.62 billion the previous week.
Speculators were bullish on the euro for a second straight week, with net
long contracts totaling 16,057, up from 6,061 the previous week.
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.
To be short a currency is to bet it will decline in value, while being long
is a view it will rise.