Speculators raise bets against U.S. dollar-CFTC

NEW YORK, March 4 (Reuters) - Currency speculators boosted
bets in favor of the euro to the highest since January 2008 in
the latest week, while bets against the dollar jumped across
the board, data from the Commodity Futures Trading Commission
showed on Friday.

The value of the dollar's net short position rose to $34.9
billion in the week ended March 1 from $22.36 billion a week
earlier, according to CFTC and Reuters calculations. It was the
largest net short dollar position for which Reuters has data,
dating back to June 2008.

Net long positions in the euro rose to 51,308 contracts,
the highest since January 2008, from 45,598 contracts in the
prior week.

The euro has rallied against the dollar in recent sessions
as inflation-fighting rhetoric from European Central Bank
officials stoked expectations euro zone interest rates will
rise faster than those in the United States.

Bets on the yen also jumped to 41,274 contracts, only the
largest since November but a big change from the 27,746 short
bets last week.

Speculators reduced long positions in sterling, but they
boosted bets in favor of gains in the Swiss franc, Australian
and Canadian dollars.

The Swiss franc hit a record high against the dollar this
week as turmoil in Libya drove investors to safe-haven assets.

Euro and Canadian dollar long positions in U.S. dollar
terms accounted for $16.4 billion of the total $34.9 billion
U.S. dollar short position.

To be short a currency is to bet it will decrease in value,
while being long a currency is a bet that its value will rise.

The Reuters calculation for the aggregate U.S. 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.

JAPANESE YEN (Contracts of 12,500,000 yen)

3/01/11 week 2/22/11 week

Long 62,396 23,457

Short 21,122 51,203

Net 41,274 -27,746

EURO (Contracts of 125,000 euros)

3/01/11 week 2/22/11 week

Long 83,104 77,454

Short 31,796 31,856

Net 51,308 45,598

POUND STERLING (Contracts of 62,500 pounds sterling)

3/01/11 week 2/22/11 week

Long 52,122 53,097

Short 26,313 17,088

Net 25,809 36,009

SWISS FRANC (Contracts of 125,000 Swiss francs)

3/01/11 week 2/22/11 week

Long 29,218 18,326

Short 11,201 6,035

Net 18,017 12,291

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

3/01/11 week 2/22/11 week

Long 78,365 72,774

Short 5,538 4,426

Net 72,827 68,348

AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)

3/01/11 week 2/22/11 week

Long 80,398 72,726

Short 8,545 6,662

Net 71,853 66,064

MEXICAN PESO (Contracts of 500,000 pesos)

3/01/11 week 2/22/11 week

Long 101,537 118,448

Short 4,335 4,172

Net 97,202 114,276

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand
dollars) 3/01/11 week 2/22/11 week

Long 15,326 15,975

Short 7,915 7,874

Net 7,411 8,101
(Reporting by Nick Olivari)