IMM speculators decreased short bets on US dollar-CFTC

NEW YORK, Nov 6 (Reuters) - Currency speculators decreased bets against the U.S. dollar in the latest week to the lowest net short position in 11 weeks, according to Commodity Futures Trading Commission data released on Friday.

The value of the dollar's net short position fell to $10.75 billion in the week ending Nov. 3 from a $15.61 billion net short the prior week. It was the lowest net short position against the U.S. dollar since Aug. 18, based on the data and Reuters calculation.

The decrease in net short dollars was driven mainly by another sharp decline in bearish trades on sterling.

The net short position on sterling fell to 18,905 contracts in the latest week from 31,431 contracts in the prior week. Net short sterling contracts had been at a record high just a few weeks ago, in the period ending Oct. 13 at 65,346 contracts.

Sterling open interest, however, barely changed in the latest week, rising 1,501 contracts to 97,336 contracts.

Other factors for the change in the net short dollar position included a fall in net euro long contracts, down to 22,191 contracts from 32,869 contracts in the prior week. Open interest declined by 3,541 contracts to 161,257 contracts.

Canadian dollar net long contracts also dropped, falling to 23,369 contracts from 35,455 contracts in the prior week. Open interest dropped 16,739 contracts to 82,896 contracts.

The aggregate U.S. dollar position, meanwhile, is derived from the 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)

11/03/09 week 10/27/09 week

Long 39,028 36,076

Short 19,196 18,546

Net 19,832 17,530

EURO (Contracts of 125,000 euros)

11/03/09 week 10/27/09 week

Long 64,023 67,843

Short 41,832 34,974

Net 22,191 32,869

POUND STERLING (Contracts of 62,500 pounds sterling)

11/03/09 week 10/27/09 week

Long 25,102 21,736

Short 44,007 53,167

Net -18,905 -31,431

SWISS FRANC (Contracts of 125,000 Swiss francs)

11/03/09 week 10/27/09 week

Long 21,171 24,104

Short 2,506 6,259

Net 18,665 17,845

CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars)

11/03/09 week 10/27/09 week

Long 27,862 41,261

Short 4,493 5,806

Net 23,369 35,455

AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars)

11/03/09 week 10/27/09 week

Long 55,825 59,128

Short 5,442 6,241

Net 50,383 52,887

MEXICAN PESO (Contracts of 500,000 pesos)

11/03/09 week 10/27/09 week

Long 66,828 73,654

Short 6,901 6,859

Net 59,927 66,795

NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars)

11/03/09 week 10/27/09 week

Long 15,802 17,613

Short 2,486 2,585

Net 13,316 15,028 (Reporting by Nick Olivari; Editing by Leslie Adler)