June 27 (Reuters) - Speculators further pared bets favoring the U.S. dollar in the latest week, according to data from the Commodity Futures Trading Commission released on Friday.
The value of the dollar's net long position slipped to $11.34 billion in the week ended June 24, from longs of $12.19 billion the previous week. Net U.S. dollar longs have declined for a second straight week.
To be long a currency is a view it will rise, while being short is a bet its value will decline.
The week also saw a decline in the euro's net short position to 57,503 contracts from 61,835 the previous week. That coincides with the euro still trading north of $1.35 versus the dollar despite the European Central Bank's announcement of stimulus measures a few weeks ago to lift a sluggish euro zone economy. Late on Friday, the euro was up 0.3 percent at $1.3647.
Short-term investors also reduced long positions on the pound, to 49,751 contracts from 52,596. This was just a position adjustment after longs got to extreme levels. Sentiment on the pound remained upbeat as the Bank of England is expected to be one of the first central banks in the developed world to raise interest rates.
The Reuters calculation for the aggregate U.S. dollar position is derived from net positions of International Monetary Market speculators in the yen, euro, sterling, Swiss franc and Canadian and Australian dollars.
Japanese Yen (Contracts of 12,500,000 yen) 24Jun2014 week Prior week Long 10,325 17,832 Short 81,548 85,870 Net -71,223 -68,038 EURO (Contracts of 125,000 euros) 24Jun2014 week Prior week Long 55,062 51,405 Short 112,565 113,240 Net -57,503 -61,835 POUND STERLING (Contracts of 62,500 pounds sterling) 24Jun2014 week Prior week Long 98,098 100,434 Short 48,347 47,838 Net 49,751 52,596 SWISS FRANC (Contracts of 125,000 Swiss francs) 24Jun2014 week Prior week Long 9,069 15,296 Short 14,441 11,776 Net -5,372 3,520 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) 24Jun2014 week Prior week Long 40,595 34,582 Short 45,915 56,115 Net -5,320 -21,533 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) 24Jun2014 week Prior week Long 65,612 61,078 Short 32,149 34,049 Net 33,463 27,029 MEXICAN PESO (Contracts of 500,000 pesos) 24Jun2014 week Prior week Long 84,943 91,227 Short 15,974 22,152 Net 68,969 69,075 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) 24Jun2014 week Prior week Long 24,855 21,671 Short 18,703 17,938 Net 6,152 3,733 (Reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)