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  • Speculators trimmed bullish bets to their lowest level in more than a year.
  • Dollar Index rose more than 100 pips in the week ended Aug. 20.

Speculators trimmed the net long (bullish) US Dollar bets to the lowest level since July 2018 during the week ended Aug. 20, according to calculations by Reuters and US Commodity Futures Trading Commission data released on Friday.

Key points

The net long dollar position was $13.327 billion in the week ended Aug. 20, compared with $16.7 billion in the previous week.

The latest net long dollar position has been the smallest since early July 2018.

The net long dollars have dropped for a third straight week.

The Dollar Index, which tracks the value of the greenback against major currencies, rose from 97.32 to 98.45 in the week ended Aug. 20. Even so, the net long positions fell.