NEW YORK | Fri Nov 30, 2012 4:25pm EST
NEW YORK Nov 30 (Reuters) - Currency speculators cut their bets in favor of the U.S. dollar in the latest w eek while they boosted short yen positions to a more than five-year high, a cc ording to data from the Commodity Futures Trading Commission released on Friday.
The value of the dollar's net long position fell to $8.01 billion in the week ended Nov. 27 from a long position of $11.2 billion the previous week.
Bets against the yen rose to 79,466 contracts, the highest since the beginning of May, 2007 when short positions reached 118,782 contracts, according to Reuters data. Short yen positions stood at 51,389 contracts in the previous week.
The yen has weakened significantly in recent sessions as speculation grew that a likely change in Japan's government would lead to aggressive monetary easing.
The yen hit a near eight-month low against the dollar last week and a seven-month low against the euro on Friday.
To be short a currency is to bet it will decline in value, while being long is a view its value will rise.
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, Canadian and Australian dollars.
JAPANESE YEN (Contracts of 12,500,000 yen)
11/27/12 week 11/20/12 week
Long 27,027 28,272
Short 106,493 79,661
Net -79,466 -51,389
EURO (Contracts of 125,000 euros)
11/27/12 week 11/20/12 week
Long 35,799 36,692
Short 102,492 128,092
Net -66,693 -91,400
POUND STERLING (Contracts of 62,500 pounds sterling)
11/27/12 week 11/20/12 week
Long 51,107 46,546
Short 40,829 45,816
Net 10,278 730
SWISS FRANC (Contracts of 125,000 Swiss francs)
11/27/12 week 11/20/12 week
Long 9,744 7,220
Short 13,111 19,708
Net -3,367 -12,488
CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)
11/27/12 week 11/20/12 week
Long 72,663 72,893
Short 10,284 11,447
Net 62,379 61,446
AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)
11/27/12 week 11/20/12 week
Long 122,186 104,617
Short 45,380 39,906
Net 76,806 64,711
MEXICAN PESO (Contracts of 500,000 pesos)
11/27/12 week 11/20/12 week
Long 101,490 96,451
Short 7,632 9,664
Net 93,858 86,787
NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)
11/27/12 week 11/20/12 week
Long 21,653 21,436
Short 2,943 3,578
Net 18,710 17,858
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