NEW YORK, Aug 23 (Reuters) - Currency speculators pared
their bets in favor of the U.S. dollar for a fifth 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 $13.54
billion in the week ended Aug. 20 from $17.62 billion the
previous week. That was the smallest net long since the week
ended June 25.
Speculators were bullish on the euro for a third straight
week, with net long contracts totaling 36,746, up from 16,057
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.