dollar currencyThe dollar has been rising with US Treasury yields as traders ramp up inflation and recovery wagers in the world’s biggest economy, in turn trouncing one of Wall Street’s most popular macro calls of 2021.
NEW YORK: Hedge funds have capitulated on their short-dollar bets, turning bullish on the greenback for the first time since November as US Treasury yields surge to pre-pandemic levels.
Leveraged funds flipped to become net buyers of the world’s reserve currency during the week to March 16, with long positions rising to 2,414 contracts, compared with shorts of 62,781 a week earlier, according to Commodity Futures Trading Commission data on seven major currencies aggregated by Bloomberg.
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