Currency speculators boosted bets in favour of the US dollar in the latest week to the highest in eight months, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position rose to $25.46 billion in the week ended March 12, the largest since July 17, from a net long position of $23.57 billion the previous week.
US dollar sentiment stayed positive as the world's largest economy continued to outperform most of the other major economies. Meanwhile, longs increased in the Australian dollar, while speculators added to bearish bets in the pound, yen, Swiss franc and Canadian dollar.
To be short a currency is to bet it will decline in value, while being long is a view its value will rise. 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.
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