Speculators decrease long US dollar bets in latest week-CFTC
NEW YORK Aug 3 (Reuters) - Currency speculators decreased their bets in favor of the U.S. dollar to the lowest since May 1 in the latest week, according to data from the Commodity Futures Trading Commission released on Friday.
The value of the dollar's net long position fell to $13.65 billion in the week ended July 31, from $20.44 billion the previous week.
Euro net short bets declined in the latest week to 138,994 contracts from 155,066 contracts in the prior week.
The data reflects positions two days before European Central Bank President Mario Draghi dashed hopes of immediate action to remedy the region's debt crisis.
Positioning after Draghi's press conference following the ECB policy announcement on Thursday will only be reflected in data collated Aug. 7 and released Aug. 10.
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.
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