U.S. Dollar Gaining in Popularity

Currency speculators have ramped up bets on the dollar strengthening against other currencies to their highest level in two months, the latest sign of bullish sentiment towards the U.S. currency making a comeback.

The value of the dollar’s net long position rose to $17.10 billion in the week ending November 19, up from $14.46 billion the previous week and the highest since the week ending September 10, data released from the Commodity Futures Trading Commission late on Friday showed.

According to Kathy Lien, managing director at BK asset management in New York, speculators hold the largest amount of long-dollar, short- yen positions in six years.

CNBC

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