A $3 Billion Swedish Hedge Fund Is Shorting the Dollar

50 subject one dollar note sheets are run through an intaglio printing press before the face is printed at the U.S. Bureau of Engraving and Printing in Washington, D.C., U.S., on Tuesday, April 14, 2015. Republican efforts to pass a fiscal year 2016 budget cleared another hurdle as the House named its members to a conference committee and Senate Majority Leader Mitch McConnell pledged to do the same by the end of the week.Photographer: Andrew Harrer/Bloomberg

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By Jonas Cho Walsgard

January 30, 2018 at 3:53 PM UTC

Updated on

January 31, 2018 at 7:39 AM UTC

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Here’s something that U.S. Treasury Secretary Steven Mnuchin might like.

Swedish hedge fund Brummer Nektar is now shorting the dollar, anticipating a “strong momentum in the short run,” said Patrik Olsson, chief investment officer at the fund, which manages about 25 billion kronor ($3 billion) from London, Stockholm and Singapore.