26.01.2016 - Aussie to Kiwi in Commodity Comeback Upend Year's Favored Trades
Commodity currencies are making a comeback as increasing speculation central banks will step up stimulus revived demand for risk, upending this year’s favorite trades. The dollars of Australia and New Zealand climbed Monday, adding to gains from last week when they rose along with the currencies of Canada and Norway in anticipation of further stimulus from the European Central Bank. Hedge funds added to bearish bets on commodity currencies in the week through Jan. 19, while building the most bullish yen position in almost four years. ECB President Mario Draghi is scheduled to speak Monday in a week when the Federal Reserve and Bank of Japan meet, with markets also speculating on monetary easing in China...............................................Full Article: Source
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