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Dollar Bulls Dig In, Raise Bullish Bets to 21-Month High: Chart

Even as the listless U.S. dollar remains stuck in a range, hedge funds remain resolute it’s going higher. Speculators have increased their net long positions on the American currency to the highest since January 2017, according to the latest data from the Commodity Futures Trading Commission. The greenback’s path will likely “remain bumpy” given the turmoil in the stock market but U.S. interest rate normalization is likely to offer it “lasting tailwinds,” wrote UniCredit SpA strategist Roberto Mialich, in a note Friday.