Nov
17
Hedge Funds Add to Bullish Dollar Wagers as Fed Decision Nears
By-
Greenback climbs to 7-month high as inflation backs Fed move
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Euro drops a third day as central-bank polices diverge
Currency traders are growing more bullish on the dollar as a consensus builds that the Federal Reserve is approaching liftoff.
The greenback climbed to a seven-month high against the euro after data showed U.S.inflation and factory output increased in October, fueling speculation the U.S. central bank will raise interest rates from near zero as soon as next month. The rally comes as hedge funds and other large speculators boosted wagers on dollar gains versus eight major currencies by a net 198,491 contracts over the past three weeks, the biggest jump since March 2013, according to data through Nov. 10 from the Commodity Futures Trading Commission…
Hedge Funds Add to Bullish Dollar Wagers as Fed Decision Nears
