Currency speculators increased net short dollar positions in the latest week, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar's net short position was $15.5 billion in the week ended August 3, up from a net short position of $5.73 billion in the previous week, according to CFTC and Reuters data.
Speculators had been long the dollar for most of 2010 and the July 13 report was the first time speculators were betting against it since the week ended March 16, when value of the net short position was just $121 million. The last time the value of the dollar's net short position was larger than this week's position was in the week to December 1, according to Reuters calculations.
The Reuters calculation for the aggregate US dollar position is derived from the net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc, Canadian and Australian dollars. Speculators were still betting against the euro and marginally against sterling in the latest week but trimmed short positions in both currencies. By a large amount against sterling. They increased long positions on the yen, Swiss franc, Canadian dollar and Australian dollar.