Speculators turn bullish on US dollar; longs highest since March 11

May 16, 2014

Chicago (May 16)   Speculators turned bullish on the U.S. dollar in the latest week, with net longs climbing to the highest in more than two months, according to data from the Commodity Futures Trading Commission released on Friday.

The value of the dollar's net long position was $4.51 billion as of the week ended May 13, from short contracts totalling $2.03 billion the previous week. This week's long position came after 4 straight weeks of shorts.

The most notable change in positioning was in the euro. Speculators turned net short the euro to 2,175 contracts, from longs of 32,551.

To be long a currency is a view it will rise, while being short is a bet its value will decline.

The Reuters calculation for the aggregate U.S. dollar position is derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars.

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