Seems Important: Long USD Bets Highest Since Aug 2008

Discussion in 'Forex' started by shortie, Apr 30, 2010.

  1. Could somebody explain to me the likely implications of this? I am clueless when it comes to currencies but I smell that this could be important for the markets:

    "Net long U.S. dollar bets highest since August 2008-CFTC
    Fri Apr 30, 2010 3:49pm EDT

    NEW YORK, April 30 (Reuters) - Currency speculators
    increased bets in favor of the U.S. dollar to the highest since
    the week of August 26, 2008 in the latest week, Commodity
    Futures Trading Commission data showed on Friday.

    The value of the dollar's net long position totaled $16.24
    billion in the week ended April 27, compared with a net long of
    $9.78 billion the previous week, according to CFTC and Reuters
    data.

    Speculators boosted bets against the euro to a new record
    of 89,013 contracts, according to Reuters data...."

    http://www.reuters.com/article/idUSN3016524820100430