Currencies
Speculative Traders Turn Short Dollar as Fed Rate Cuts Loom
- Net dollar longs down some $42 billion from April peak: CFTC
- Hedge funds take bullish view on euro, turn short Mexican peso
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Speculative traders turned bearish on the dollar for the first time since February as the Federal Reserve looks set to kick off its easing cycle in September.
Hedge funds, asset managers and other players in the futures market are, on net, positioning for declines in the US currency, according to the latest Commodity Futures Trading Commission data, which covers the week ending Aug. 27. Traders have wagered some $9.8 billion tied to more losses for the dollar, the most since January.