Dollar Index May Extend Drop on ‘Trend Followers’: Chart of Day
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The Dollar Index may extend a run of nine weekly declines, its longest since 2004, as “trend followers” add to bets the Federal Reserve will boost stimulus measures to support growth, Commerzbank AG said.
The CHART OF THE DAY shows total speculative bets that the dollar will weaken are less than a 2007 record, having risen from an all-time low in June this year. The dollar has dropped from a four-year high against the euro on June 7 amid concern the U.S. recovery is faltering, which may prompt the Fed to initiate more asset purchases.