June 17 (Reuters) - Speculators favored the U.S. dollar for a fourth straight week, but reduced their net long positions by more than $8 billion, according to data from the Commodity Futures Trading Commission released on Friday.
The value of the dollar’s net long position fell to $2.72 billion in the week ended June 14 from $11.3 billion the previous week.
Speculators also reduced their net short positions against the British pound after growing to their largest in three years last week. The positions were tracked through Tuesday, eight days before a crucial vote about Britain’s future in the European Union.
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 Dion Rabouin; Editing by Cynthia Osterman)