Currencies
Traders Amp Up Bullish Bets on Dollar Before Pivotal US Election
- Hedge funds, asset managers hold $18b in bullish bets: CFTC
- Long dollar positions have been increasing ahead of vote
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Hedge funds and other speculative traders are positioned for a further rally in the dollar as demand for haven assets rises in advance of the US presidential election.
Hedge funds, asset managers and other speculators held some $17.8 billion in bullish dollar positions as of Oct. 29, according to Commodity Futures Trading Commission data compiled by Bloomberg. They added more than $8 billion worth of bullish bets in the week, after abandoning a negative outlook in mid-October.