Dollar Bulls Retreat as US Economic Print Cools, CFTC Data Show
- Investor’s position turns short for first time in six weeks
- Data will keep dollar positioning volatile, CBA’s Kong says
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Bullish sentiment on the dollar is rapidly receding amid signs the US economy is cooling, with a group of investors holding a net short position for the first time in six weeks.
While leveraged funds still held bullish wagers on the greenback last week, they were dwarfed by increased net dollar shorts owned by asset managers, Commodity Futures Trading Commission data show. Combined they held a net short position with contracts worth $5.36 billion as of May 21. That compared with a net $2.02 billion long position a week earlier.