Currency speculators decreased 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 $28.69 billion in the week ended July 23, slipping from a six-week high of $29.61 billion reached the previous week. Net long dollar contracts fell for the first time in four weeks, although investors have been dollar long since mid-February.
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. To be long a currency is to bet it will rise in value, while the opposite holds true for a short view.
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