Hedge Funds Dollar Value

Hedge Funds Up Bets Against Dollar Upon Bernanke Talk

Hedge funds increased bets against the dollar's value last week. Hedge funds upped their bets that the dollar would decline to $28.6 billion as Federal Reserve Chairman Ben Bernanke gave his first press conference.

The sum held in short positions against the world's reserve currency on April 26 is the highest in more than month and $3bn more than the previous week.

The figures, released over the weekend by the Commodity Futures Trading Company (CFTC), indicate that hedge funds have made hundreds of millions of dollars from the recent collapse in the value of the greenback.

The dollar hit a three-year low against a basket of currencies on Friday, and has fallen for the last five months straight. It fell 3.8pc against the basket in April, and is down 7.5pc down so far this year. Source

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