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Hedge Funds Flip to US Dollar Bears on Bets Peak of Rally Is Over
Hedge funds have turned bearish on the dollar for the first time in a year in a wager the US currency’s best days may be over. Leveraged investors flipped to a net short position on the greenback versus a basket of eight major peers last week, the first bearish shift since last August, according to data from the Commodity Futures Trading Commission. Hedge funds had been some of the biggest champions of the dollar this year due to a hawkish Federal Reserve and concern over slowing global growth. Sentiment may be shifting as signs emerge that aggressive Fed interest-rate hikes may finally be cooling the quickest US ... (full story)
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