Hedge funds and large speculators have boosted their bullish positions on the Australian dollar to the highest level in over eight years, reflecting confidence that rising bond yields and a prolonged Reserve Bank of Australia (RBA) tightening cycle will support the currency, according to a report by Bloomberg citing CFTC data.
The latest data shows that net-long positions surged 43% to 57,115 contracts in the week ended 3 February, the highest since late 2017.
The rally underscores investor inte...
Continue Reading
Sign up for FREE to read the full article and access 129K+ alternative investment headlines.