May 10, 2019 / 7:49 PM / 4 months ago

Speculators cut bullish bets on U.S. dollar - CFTC and Reuters

NEW YORK, May 10 (Reuters) - Speculators cut their net long bets on the U.S. dollar in the latest week, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday.

The value of the net long dollar position was $38.08 billion in the week ended May 7, down from $38.88 billion the prior week.

To be long a currency means traders believe it will rise in value, while being short points to a bearish bias. The speculative market has been long on the dollar since mid-June last year. (Reporting by Kate Duguid Editing by Susan Thomas)

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