Speculators chop net long US dollar bets

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.

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.