NEW YORK Dec 7 Currency speculators slashed
bullish bets on the U.S. dollar for a second straight week,
while they increased short yen positions to a more than
five-year high, according to data from the Commodity Futures
Trading Commission released on Friday.
The value of the dollar's net long position slid to $920.79
million in the week ended Dec. 4 from $8.01 billion the previous
week. This week's net U.S. long dollar position was the smallest
since late October when speculators' greenback shorts totaled
about $710 million.
To be long a currency is to bet it will rise in value,
while being short is a view its value will decline.
Yen shorts this week hit 90,326 contracts, the largest since