May 27, 2016 / 7:55 PM / 4 years ago

Speculators turn net long U.S. dollars for 1st time in six weeks-CFTC, Reuters

NEW YORK, May 27 (Reuters) - Speculators turned bullish on the U.S. dollar for the first time in six weeks, with net longs on the currency notching their largest level since late March.

Several Federal Reserve officials, in recent speeches, did not rule out an interest rate increase next month, boosting sentiment on the dollar.

The value of the dollar’s net long position was $3.73 billion in the week ended May 24, reversing the previous week’s short position of $4.19 billion, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu Nomiyama)

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