Nov
16

Dollar Climbs to 7-Month Peak as Hedge Funds Boost Bullish Bets

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  • Greenback strengthens against all 10 major developed peers
  • Euro may reach parity with dollar by year end: Robin Brooks

The dollar climbed to a seven-month high as hedge funds increased wagers the currency will strengthen amid speculation the Federal Reserve will raise interest rates as soon as next month.

Hedge funds and other large speculators boosted bets on dollar gains versus eight major currencies in the last three weeks, in the biggest jump since March 2013, data from the Commodity Futures Trading Commission showed. The greenback strengthened against all of its 10 developed-market peers as traders looked to U.S. inflation data due Tuesday for clues on whether the Fed will increase interest rates from near zero next month…

Dollar Climbs to 7-Month Peak as Hedge Funds Boost Bullish Bets

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