Currency speculators' bets in favour of the US dollar soared in the latest week, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position rose to $16.98 billion in the week ended February 14, from $10.63 billion the previous week.
The Reuters calculation for the aggregate US dollar position is derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars. Euro shorts rose this week to 148,641 contracts from 140,593 as negotiations about Greece's second rescue package dragged on.
Bets against the Swiss franc, meanwhile, surged to their highest since May 2007, while Canadian dollar longs advanced to roughly a six-month peak. To be short a currency is to bet it will decline in value, while being long is a view its value will rise.
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