{"id":585488,"date":"2023-04-19T00:00:00","date_gmt":"2023-04-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/hedge-funds-think-the-usd-has-farther-to-fall\/"},"modified":"2023-04-19T00:00:00","modified_gmt":"2023-04-19T00:00:00","slug":"hedge-funds-think-the-usd-has-farther-to-fall","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/hedge-funds-think-the-usd-has-farther-to-fall\/","title":{"rendered":"Hedge funds think the USD has farther to fall"},"content":{"rendered":"

<\/span> Investors are betting the greenback will decline further<\/span> on expectations that the US <\/span>central bank will be forced to hold interest rates steady while those in the UK and eurozone rise, the <\/span>Financial Times<\/a><\/span> reports. Speculative traders have doubled their short positions in the greenback since mid-March to a total of USD 10.7 bn, the FT says citing Refinitiv calculations. \u201cThe dollar has had a fantastic run but it\u2019s starting to turn,\u201d Deutsche Bank strategist Alan Ruskin is quoted as saying. <\/span><\/p>\n

What do you mean \u201cfurther declines\u201d? <\/span>We might think of the USD as a perennially \u201cstrong\u201d currency, but it\u2019s seen a big reversal of fortunes in recent months. The greenback last week hit its lowest level in a year against a basket of currencies as the US banking crisis quelled expectations of further rate hikes. The drop comes after an 18-month bull run that saw the USD hit a 20-year high back in September. <\/span><\/p>\n

Also worth knowing this morning: <\/span><\/p>\n