http://www.bloomberg.com/news/2011-07-31/dollar-bear-bets-rise-to-highest-since-may-on-debt-limit-focus.html?cmpid=
Investors boosted bearish bets on the dollar to the highest level in more than two months on concern the political stalemate in Washington on raising the U.S. debt limit will erode the value of the world’s reserve currency.
Hedge funds and other large speculators had reduced bets against the dollar to 147,684 contracts as of June 28, the lowest level in more than nine months, as European policy makers debated a debt restructuring for Greece. CFTC data as of July 26 show traders added 162,538 so-called net shorts as the focus shifted to the U.S. debt negotiations.
Momentum may be shifting again. Ninety-four percent of the 17 money managers overseeing a total of $1.26 trillion surveyed by Ried Thunberg ICAP Inc. expect the dollar to be stronger or steady relative to the euro in next three months, while 59 percent expect it to be stronger or steady against the yen. The New Jersey-based firm is a unit of the world’s largest interdealer broker.
Wagers by hedge funds and other large speculators on a decrease in the dollar versus the euro, yen, Australian dollar, Canadian dollar, franc, Mexican peso and British pound rose to 310,222 from 272,444 on July 19. The difference in bets on an advance in the euro compared with those on a decline -- so-called net longs -- rose to 17,038 from 9,246 a week earlier, data released July 29 showed.
Investors boosted bearish bets on the dollar to the highest level in more than two months on concern the political stalemate in Washington on raising the U.S. debt limit will erode the value of the world’s reserve currency.
Hedge funds and other large speculators had reduced bets against the dollar to 147,684 contracts as of June 28, the lowest level in more than nine months, as European policy makers debated a debt restructuring for Greece. CFTC data as of July 26 show traders added 162,538 so-called net shorts as the focus shifted to the U.S. debt negotiations.
Momentum may be shifting again. Ninety-four percent of the 17 money managers overseeing a total of $1.26 trillion surveyed by Ried Thunberg ICAP Inc. expect the dollar to be stronger or steady relative to the euro in next three months, while 59 percent expect it to be stronger or steady against the yen. The New Jersey-based firm is a unit of the world’s largest interdealer broker.
Wagers by hedge funds and other large speculators on a decrease in the dollar versus the euro, yen, Australian dollar, Canadian dollar, franc, Mexican peso and British pound rose to 310,222 from 272,444 on July 19. The difference in bets on an advance in the euro compared with those on a decline -- so-called net longs -- rose to 17,038 from 9,246 a week earlier, data released July 29 showed.
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