Hedge Funds Cut Bullish Dollar Bets

Hedge funds and money managers cut net-bullish futures bets on the dollar for the fourth week, according to data from the Commodity Futures Trading Commission. Wagers that the dollar would rise versus eight major currencies outnumbered bearish positions by 68,916 contracts in the week to Aug. 30, down more than 50 percent since Aug. 9. Currency traders weighed lackluster economic data on manufacturing and jobs against comments from Federal Reserve officials that bolstered the outlook for an interest-rate increase as early as this month.

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