Hedge funds are taking on Wall Street strategists again, betting on gains in theAussie and kiwi dollars. Leveraged wagers on the Australian currency rose for a fourth week as of July 4 to a net long of 31,090 contracts, while those on the kiwi increased a seventh week to 30,519, with the combined position the largest since March. That puts the speculators -- leveraged bets are often used by hedge funds -- at odds with currency strategists who are forecasting the Aussie will slide more than 1 percent and the kiwi will fall almost 4 percent by year’s end.
Source: Bloomberg Pro Terminal
Trader I. Ivanov
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