Hedge Funds Cut Dollar Longs on Sign Fed Hikes Are Still Distant
- Funds trimmed longs by a quarter over three most recent weeks
- Yields, dollar unlikely to keep rising nonstop: Tokai Tokyo
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Hedge funds’ bullishness toward the dollar is starting to evaporate amid speculation the U.S. currency has risen too much given the Federal Reserve remains adamant it’s in no rush to raise interest rates.
Leveraged funds trimmed net long positions for a third straight week in the period through Nov. 16, having cut back their bullish bets by more than a quarter over that period, according to data from the Commodity Futures Trading Commission for eight currency pairs aggregated by Bloomberg.