By Jamie McGeever ORLANDO, Florida (Reuters) - Hedge funds cut their net short dollar position by nearly $5 billion last week, according to the latest ...
By Jamie McGeever ORLANDO, Florida - Hedge funds cut their net short dollar position by nearly $5 billion last week, according to the latest U.S. futures markets data, the biggest swingaFrite Restaurant's Fight for Survival: little Halifax versus Halifax's little Toronto | SaltWireORLANDO, Florida - Hedge funds cut their net short dollar position by nearly $5 billion last week, according to the latest U.S.
It was sixth week out seven that speculators have turned more bullish on the dollar - or less bearish, if you prefer - and they are now on the verge of flipping to an outright net long position for the first time since November. Speculators' net short dollar position against just the G10 currencies, which was worth $18 billion as recently as July, has now completely evaporated.
But ECB hawks are banging the drum that no more rate hikes does not mean rates will be cut any time soon, and again, fatigue may set in - funds have cut their net long euro position 14 weeks out of the last 17.
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