Large speculators are betting on dollar weakness for the first time since July 2014, a report from the Commodity Futures Trading Commission showed. Buying the dollar was the winning trade for the past two years as the Federal Reserve moved toward higher interest rates, while aggressive quantitative easing in Europe and Japan along with a China-led slowdown in emerging markets weakened rival currencies. Greenback appreciation fizzled after the U.S. central bank cut forecasts for economic growth and inflation at its meeting last month, and set a higher bar for when it may raise rates.
Hedge Funds Become Dollar Bears for First Time Since 2014: Chart
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