Speculators cut long dollar bets for 4th straight week-CFTC, Reuters

08/16/2013

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.

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