NEW YORK, June 22 (Reuters) - Speculators turned bullish on the dollar for the first time since July last year, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday, as sentiment improved after the Federal Reserve forecast two more interest rate hikes this year.
The value of the net long dollar position was $8.64 billion in the week ended June 19, compared with a net short of $7.42 billion the previous week. This week’s net long dollar position was the largest since May 16 last year.
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. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chizu Nomiyama)