Hedge Funds May Have Turned Dollar Bulls at the Wrong Time
- Speculators flipped to long dollar bets in week to March 14
- Dovish Fed hike sets stage for greenback weakness: Wells Fargo
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Hedge funds couldn’t have picked a worse time to turn bullish on the dollar.
After betting against the greenback for 13 straight weeks, speculators flipped to a net long position in the week ended March 14, according to data from the Commodity Futures Trading Commission. The shift came days just before the Federal Reserve tempered its language around how much additional policy tightening might be needed, sending the dollar sliding.