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Hedge Funds Head for Cover as US Dollar Rebound Gathers Pace

From bnnbloomberg.ca

The dollar rebound is picking up pace, with signs that speculative traders are busy covering short positions after U.S. Treasury yields surged. Traders are reporting strong demand from leveraged funds for the dollar on Monday, adding to data released from the Commodity Futures Trading Commission that showed them trimming long positions on major currencies including the euro and the pound. “The dollar is so extremely oversold, over-hated, and over-shorted that it all but has to rally for a while at some point soon,” said Matt Maley, chief market strategist at Miller Tabak + Co. “The dollar is getting very ripe for a ... (full story)

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  • Category: Fundamental Analysis