NEW YORK, July 1 Currency speculators reduced
bets against the U.S. dollar in the latest period to their
lowest level since the week of Jan 11, according to data from
the Commodity Futures Trading Commission released on Friday.
The value of the dollar's net short position fell to $12.44
billion in the week ended June 28, from net shorts of $17.05
billion a week earlier.
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.
To be short a currency is to bet it will decline in value,
while being long a currency is a bet its value will rise.
Sterling net shorts also rose to 18,349 contracts, their
largest since July 2010.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu