UPDATE 1-Speculators boost short U.S. dollar bets in week -CFTC

Fri Dec 21, 2012 4:05pm EST

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NEW YORK, Dec 21 (Reuters) - Currency speculators increased their bets
against the U.S. dollar in the latest week, according to data from the Commodity
Futures Trading Commission released on Friday.
    The value of the dollar's net short position rose to $6.39 billion in the
week ended Dec. 18, from a net short position of $1.03 billion the previous
week.
    To be short a currency is to bet it will decline in value, while being long
is a view its value will rise.
    Speculators sharply reduced short positions on the euro to 9,736 contracts
from 31,623 contracts. 
    The euro zone common currency had rallied and hit an 8-1/2-month peak
against the dollar on Wednesday, lifted by upbeat economic data and optimism
about Greece. Hopes of a budget deal in the United States also encouraged
investors to seek riskier assets such as the euro.
    Bets against the yen fell after reaching a more than five-year peak. The yen
had been pressured in recent weeks on expectations a new Japanese government
will push the Bank of Japan into more forceful monetary easing.
    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.
    
    JAPAN YEN (Contracts of 12,500,000 yen)
             12/18/12 week         12/11/12 week
   Long          27,935               16,369
   Short        117,098              110,770
   Net          -89,163              -94,401
 
    EURO (Contracts of 125,000 euros) 
             12/18/12 week         12/11/12 week
   Long          69,460               51,536
   Short         79,196               83,159
   Net           -9,736              -31,623
 
    POUND STERLING (Contracts of 62,500 pounds sterling) 
             12/18/12 week         12/11/12 week
   Long          79,375               64,753
   Short         51,339               36,799
   Net           28,036               27,954
 
    SWISS FRANC (Contracts of 125,000 Swiss francs) 
             12/18/12 week         12/11/12 week
   Long          17,361               11,243
   Short         13,081                8,034
   Net            4,280                3,209
 
    CANADA DOLLAR (Contracts of 100,000 Canadian dollars) 
             12/18/12 week         12/11/12 week
   Long          81,493               74,220
   Short          7,215               11,687
   Net           74,278               62,533
 
    AUSTRALIA DOLLAR (Contracts of 100,000 Aussie dollars) 
             12/18/12 week         12/11/12 week
   Long         144,966              139,540
   Short         47,470               36,164
   Net           97,496              103,376
 
    MEXICO PESO (Contracts of 500,000 pesos) 
             12/18/12 week         12/11/12 week
   Long         169,413              155,296
   Short         21,664                6,025
   Net          147,749              149,271
 
    NEW ZEALAND DOLLAR (Contracts of 100,000 NZ dollars) 
             12/18/12 week         12/11/12 week
   Long          31,830               29,560
   Short         17,600                4,960
   Net           14,230               24,600
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