NEW YORK, July 27 (Reuters) - Speculators raised bullish bets on the U.S. dollar to the largest position since January 2017, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday.
The value of the net long dollar position was $20.33 billion in the week ended July 24, up from $18.41 billion the previous week. Speculators were net long dollars for a sixth straight week, after being short for 48 consecutive weeks.
To be long a currency means traders believe it will rise in value, while being short points to a bearish bias.
U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars.
Yen net short bets, meanwhile, grew to 73,769 contracts, the largest short position since March, CFTC data showed. (Reporting by Kate Duguid)