Hedge funds have decided it’s finally time to bet on the dollar’s slump. Leveraged traders held a combined net short position of 26,874 contracts on the dollar against eight other currencies as of June 27, the first time that’s happened since May 2016 in the lead-up to the Brexit referendum. The funds are betting the greenback’s retreat has even further to run, after the Bloomberg Dollar Spot Index sank last week to close out its longest monthly losing streak in six years.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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