Dollar Bears Set Currency on Course for Worst July in a Decade
- Hedge fund K2 Asset is selling dollar against Aussie on growth
- Dollar heads toward the key 105 yen level as drop continues
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A rout that sent the dollar to the lowest since January 2019 may have room to run.
Data from the Commodity Futures Trading Commission show that asset managers added to net long positions on the yen, the euro, the Canadian dollar and the Swiss franc, adding fuel to a sell-off that sent the Bloomberg Dollar Spot Index tumbling 3.4% this month. The gauge is poised for its worst July since 2010.