Hedge Funds Running Biggest US Dollar Short Since 2017 Risk Squeeze

Hedge funds that have racked up the largest bets against the dollar in almost three years may be running headlong into a short squeeze. With markets on edge over resurgent coronavirus cases and a contentious U.S. presidential election, predictions of the currency’s demise as the world’s number one haven appear premature. Investors went into the greenback’s strongest rally since April last week expecting losses in all-but-one of the Group-of-10 currencies versus the dollar, the first time since 2013, according to ING Groep NV data. Few of those bets have been covered, according to the latest data. Speculative … (full story)

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