Hedge Funds Favorite Currency
Survey Shows Dollar is Favorite Currency of Hedge Funds
Sterling enjoys the support of just 3% of respondents, according to the study, which was conducted in February.
Respondents to the monthly survey hold an average of $113 million in assets under management.
Managers who are bullish on the dollar do not generally believe that interest rates are set to rise significantly, the survey found. Instead, their preference for the U.S. currency could be based on its tendency to climb in times of economic stress.
"Managers who expect the global economy to double dip are likely to be bearish on rates and bullish on the U.S. dollar because of its safe-haven status," the report said.
Two-thirds of fund managers expect the Greek debt crisis to spread to other euro-zone countries. Some 15% think that this will lead to the eventual breakup of the euro. Source
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