Hedge Funds Battle With Goldman Sachs in Going Long on Aussie
- Goldman Sachs Asset Management positioned for Aussie declines
- Leveraged funds lift net-long positions to 4 1/2-year high
HSBC's Bloom Likes Aussie Dollar, Kiwi
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Goldman Sachs Asset Management is clashing with speculators in a wager on a weaker Australian dollar, just as those hedge funds top up bets on the currency appreciating.
Philip Moffitt, the Asia-Pacific head of fixed income at Goldman Sachs Asset Management, sees the dollar Down Under falling as the country’s central bank raises interest rates at a slower pace than many of its developed-world peers. By contrast, leveraged accounts -- often hedge funds -- last week boosted positions that pay off if the Aussie strengthens to A$8.6 billion ($6.7 billion) worth of contracts, the highest level since 2013.