Feb
28

Dollar Rebound Timing Confounds Hedge Funds Paring Bullish Bets

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  • Greenback strengthens against most major counterparts
  • Yen advances, on track for best month since October 2008

Hedge funds picked the wrong time to pare bullish dollar bets.

Speculators reduced wagers on dollar strength to the least since July 2014 last week, ahead of the currency’s best rally in two months after better-than-forecast economic data boosted the odds of tighter Federal Reserve policy this year. The greenback rose against most major peers again Monday before reports on employment and manufacturing this week. The yen advanced, heading for its best month versus the dollar since the financial crisis, after Chinese stocks slumped, renewing demand for the currency as a haven…

Dollar Rebound Timing Confounds Hedge Funds Paring Bullish Bets

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