Currency speculators slightly reduced their bets in favour of the US dollar 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 fell to $24.94 billion in the week ended April 23, from $25.18 billion the previous week.
Net short positions on the yen fell to 79,730 contracts from 93,411 contracts in the previous week, while speculators boosted bets against the euro in the latest week. Long bets on the Australian dollar fell to 31,257 contracts from 53,175 contracts. 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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