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CFTC: Speculators Less Hopeful About Dollar's Prospects
Traders cut by 19% their bets that the dollar will strengthen, wagering a net $14.3 billion that the U.S. currency will rise against other major currencies, government data showed Friday. As markets watch for signs of a resolution to Europe's debt crisis, investors are worried about how the problems will affect the global economy, which has sparked volatility in exchange rates. Uncertainty over how political leaders and central bankers will solve the euro zone's problems led traders to place a net $16.1 billion in bets that the euro will weaken against the dollar, as of Dec. 6. This pessimistic bet is 8% smaller than ... (full story)