The Dollar Is Defying All the Doom and Gloom Calls
Investors lined up earlier this year to bet against the US dollar. Now, momentum is shifting in favor of the greenback.
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Just a few months ago, everyone on Wall Street seemed to be a dollar bear. But with the US currency showing more signs of strength, that wager is getting painful.
It has climbed to around a two-month high even as the US government shutdown drags on. In Asia and Europe, traders say hedge funds are adding to options bets that the rebound will extend into year-end.