NEW YORK (Reuters) - Currency speculators boosted their bets in favor of the U.S. dollar in the latest week to their largest since January, according to data from the Commodity Futures Trading Commission released on Friday.
The value of the dollar’s net long position rose to $19.58 billion in the week ended March 27, from $11.67 billion the previous week.
Shorts on the yen, on the other hand, ballooned to their biggest since July 2007, according to Scotia Capital estimates.
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.
Reporting by Gertrude Chavez-Dreyfuss