Speculators cut their net long dollar position in the latest week to the lowest level since June 2018, according to calculations by Reuters and US Commodity Futures Trading Commission data released on Friday.
The value of the dollar's net long position, derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, and Canadian and Australian dollars, fell to $12.03 billion in the week ending August 27, from $13.33 billion the previous week.
It has fallen from $38.88 billion in April.
In a wider measure of dollar positioning that includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian ruble, the US dollar posted a net long position valued at $10.56 billion, the lowest since June 2018 and down from $10.90 billion a week earlier.
The US dollar hit a more than two-year high against the euro on Friday. The greenback has benefited as US Treasuries offer higher yields than comparable European government bonds, which in many cases are trading with negative yields.
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