UPDATE 1-Speculators go long on US dollar, 1st time since Sept

Nov 9 (Reuters) - Currency speculators favored the U.S.
dollar in the latest week for the first time since early
September, according to data from the Commodity Futures Trading
Commission released on Fri day.
The value of the dollar's net long position totaled $1.296
billion in the week ended Nov. 6, from net shorts of around $710
million the previous week. It was the first net long position
for the greenback in two months.
To be long a currency is to bet it will increase in value,
while being short is a view its value will decline.
The dollar has been a major beneficiary of safe-haven flows
as worries about Europe came to the fore once again.
Expectations about slower growth in Germany and uncertainty
about whether Spain would seek a bailout or not have weighed on
the euro and benefited the dollar.
In addition, worries over a looming "fiscal cliff" for the
United States, which could trigger tax increases and spending
cuts if not addressed, have also prompted investors to seek the
greenback's safety.
"Risk aversion remains firmly entrenched," said Samarjit
Shankar, director of strategy at BNY Mellon in Boston. He cited
BNY Mellon's iFlow FX indicators, which showed that the U.S.
dollar remains steadily net bought.
In contrast, Shankar said he saw continued outflows from the
euro, which has now been net sold for a sixth successive trading
day.
The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
Market speculators in the yen, euro, sterling, Swiss franc,
Canadian and Australian dollars.

JAPAN YEN (Contracts of 12,500,000 yen) 6,239,731,142.64
11/06/12 week 10/30/12 week
Long 24,966 19,886
Short 65,070 56,906
Net -40,104 -37,020

EURO (Contracts of 125,000 euros) 10,753,470,412.50
11/06/12 week 10/30/12 week
Long 45,212 38,189
Short 112,353 96,393
Net -67,141 -58,204

POUND STERLING (Contracts of 62,500 pounds sterling)
-1,927,297,531.25
11/06/12 week 10/30/12 week
Long 57,208 57,897
Short 37,929 34,494
Net 19,279 23,403

SWISS FRANC (Contracts of 125,000 Swiss francs)
40,164,369.03
11/06/12 week 10/30/12 week
Long 13,509 11,785
Short 13,812 9,419
Net -303 2,366

CANADA DOLLAR (Contracts of 100,000 Canada dollars)
-7,538,011,695.91
11/06/12 week 10/30/12 week
Long 82,882 86,306
Short 8,120 7,535
Net 74,762 78,771

AUSTRALIA DOLLAR (Contracts of 100,000 Aussie dollars)
-6,290,459,930.00
11/06/12 week 10/30/12 week
Long 98,037 91,030
Short 37,720 38,940
Net 60,317 52,090

MEXICO PESO (Contracts of 500,000 pesos) -4,414,667,458.89
11/06/12 week 10/30/12 week
Long 120,223 130,624
Short 5,801 4,615
Net 114,422 126,009

NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars)
-1,603,193,720.00
11/06/12 week 10/30/12 week
Long 24,440 20,849
Short 5,052 4,104
Net 19,388 16,745