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Alternative Market Briefing

Hedge funds are bullish on U.S. dollar

Wednesday, March 26, 2014

Komfie Manalo, Opalesque Asia:

Hedge funds are trying to cash in on the appreciating U.S. dollar and reversed their earlier position betting on the greenback’s decline early this year, said Bank of America Merrill Lynch. Since the start of 2014, the U.S. dollar fell 0.6% against the euro about 3% versus the yen.

The report said fund managers took positively the remarks given by Federal Reserve Chairman Janet Yellen on March 19 about the country’s growing economy and the possible rise in interest rates next year. Traders are aware that an increase in interest rates are correlated with the appreciation of currency caused by incr......................

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