Sunday, May 1, 2011
Hedge funds increased their bets against the dollar to a massive $28.6bn (£17.1bn) in advance of Ben Bernanke's historic first press conference as chairman of the Federal Reserve last week.
UK Telegraph
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.
The data shows that investors are pulling out of the dollar in favour of almost every other currency except the Japanese yen.
Camilla Sutton, chief currency strategist at Scotia Capital, said: "It's an ongoing build of short-dollar positions overall. Generally, sentiment remains very negative against the dollar."...[Full Article]
Labels: devaluation, dollar
Monday, April 25, 2011
CNBC
Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.
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CNBC.com |
A combination of factors accounts for the weakness, with the Federal Reserve's easy-money policies, huge national debts and deficits and the consequential possibility of a debt downgrade because of the financial mess in Washington leading the way.
In short, as trader Dennis Gartman noted Thursday, "the rout of the US dollar" is in full effect...[Full Article]
Labels: currency, devaluation, dollar
Wednesday, November 3, 2010
The dollar is in danger of losing 20 percent of its value over the next few years if the Federal Reserve continues unconventional monetary easing, Bill Gross, the manager of the world's largest mutual fund, said on Monday...
[Full Article]
Labels: devaluation, economy, FFederal Reserve
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