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Speculators chop net long US dollar bets

The value of the US dollar's net long position dropped to US$135 million in the week ended July 4, from net longs of US$4.5 billion the previous week. Last week marked the first time since mid-April 2016 that net long dollar positioning fell to under US$1 billion.

New York

SPECULATORS last week slashed net long bets on the US dollar to their lowest since mid-May 2016 when investors overall had net short positions on the greenback, according to calculations by Reuters and Commodity Futures Trading Commission (CFTC) data released on Friday.

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