Hedge Funds Are Short on Dollar for First Time in Two Years
- Falling U.S. real yields are sapping the currency’s allure
- Dollar may find support from U.S. stimulus stalemate: Barclays
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Hedge funds turned bearish on the dollar for the first time since May 2018, an indication that a summer slump in the world’s reserve currency will be prolonged.
Net futures and options positions held by leveraged funds against eight other currencies dropped to minus 7,881 contracts last week, according to data aggregated from the Commodity Futures Trading Commission. The swing was driven by growing bullish bets on the euro.