UPDATE 1-Speculators boost long USD bets to 5-week high

NEW YORK, Nov 28 (Reuters) - Currency speculators raised
their bets in favor of the U.S. dollar to the highest level in
five weeks in the latest week, according to data from the
Commodity Futures Trading Commission released on Monday.
The value of the dollar's net long position rose to $12.11
billion in the week ended Nov. 22, from $10.13 billion the
previous week.
Speculators increased their bets against the euro to 85,068
contracts in the latest week, from 76,147 contracts a week
earlier.
Short positions in the Swiss franc jumped to 5,870
contracts, the highest level since February 2010, as
speculation grew the Swiss National Bank may take further
efforts to weaken its currency.
Bets in favor of the Japanese yen climbed to 43,180
contracts, the highest level since late October.
To be short a currency is to bet it will decline in value,
while being long is a view its value will rise.
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, Canadian and Australian dollars.
JAPANESE YEN (Contracts of 12,500,000 yen)
11/22/11 week 11/15/11 week
Long 57,018 49,916
Short 13,838 16,236
Net 43,180 33,680
EURO (Contracts of 125,000 euros)
11/22/11 week 11/15/11 week
Long 25,943 24,048
Short 111,011 100,195
Net -85,068 -76,147
POUND STERLING (Contracts of 62,500 pounds sterling)
11/22/11 week 11/15/11 week
Long 20,691 23,355
Short 57,325 56,219
Net -36,634 -32,864
SWISS FRANC (Contracts of 125,000 Swiss francs)
11/22/11 week 11/15/11 week
Long 4,049 5,308
Short 9,919 7,212
Net -5,870 -1,904
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
11/22/11 week 11/15/11 week
Long 29,041 28,819
Short 51,185 46,034
Net -22,144 -17,215
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
11/22/11 week 11/15/11 week
Long 43,450 57,352
Short 25,490 33,022
Net 17,960 24,330
MEXICAN PESO (Contracts of 500,000 pesos)
11/22/11 week 11/15/11 week
Long 6,166 17,858
Short 37,748 32,879
Net -31,582 -15,021
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand
dollars)
11/22/11 week 11/15/11 week
Long 12,639 14,255
Short 4,723 3,641
Net 7,916 10,614