Speculators turn bullish on US dollar; longs highest since March 11-CFTC

Chicago (May 17)  Speculators turned bullish on the U.S.
dollar in the latest week, with net longs climbing to the
highest in more than two months, according to data from the
Commodity Futures Trading Commission released on Friday.
    The value of the dollar's net long position was $4.51
billion as of the week ended May 13, from short contracts
totalling $2.03 billion the previous week. This week's long
position came after 4 straight weeks of shorts.
    The most notable change in positioning was in the euro.
Speculators turned net short the euro to 2,175 contracts, from
longs of 32,551.
    To be long a currency is a view it will rise, while being
short is a bet its value will decline.
    The Reuters calculation for the aggregate U.S. dollar
position is derived from net positions of International Monetary
Market speculators in the yen, euro, British pound, Swiss franc
and Canadian and Australian dollars.