U.S. Markets

Speculators' net short dollar bets at highest since 2011: CFTC, Reuters

(This version of the March 23 story corrects to say dollar short position was highest since August 2011, not January 2017, in headline and first paragraph)

NEW YORK (Reuters) - Speculators’ net short dollar bets rose to the highest since August 2011, in the latest week, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.

The value of the net short dollar positions, derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars, was $21.99 billion in the week to March 20.

That compares with a net short position of $14.61 billion the previous week.

To be short a currency means traders believe it will fall in value.

Net short positioning on the Japanese yen shrank to 21,999 contracts, the smallest position since November 2016, from a net short position of 79,539 contracts, last week, the data showed.

Reporting by Saqib Iqbal Ahmed; Editing by Susan Thomas