ORLANDO, Florida, June 9 - Hedge funds and speculators continue to temper their optimism on the U.S. dollar, and are now holding the smallest net long position in the currency since March.
"The power of the U.S. jobs data ... reinforces the risk of the Fed remaining on the sidelines for longer," MUFG analysts wrote on Friday. The latest Commodity Futures Trading Commission data show that speculators cut their net long dollar position against a basket of G10 and emerging market currencies to just under $11 billion in the week ending June 4 from $15.3 billion the week before.
A long position is essentially a bet that an asset will rise in value, and a short position is a wager its price will fall.
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