FX speculators rebuilt their net long dollar bets in the latest week, according to data from the Commodity Futures Trading Commission and one major house calculation on Friday, ending five consecutive weeks of declines. The value of the dollar's net long position rose to $15.82 billion in the week ended Aug. 27 from $13.54 billion the week ended Aug. 20. Speculators have now been long the dollar since mid-February.
Speculators again increased their bets on the euro against the dollar and have now been bullish on the euro for four straight weeks. Net long contracts totaled 40,081, up from 36,746 the previous week.
The dollar is the currency to beat and the weekly positioning data, though not overwhelming given the highs close to $30 billion a few months ago, bears that out.