(Bloomberg) This time, it seems, hedge fund managers have done the wider market a favor.
Disheartened by the dollar’s five-week selloff to start the year, hedge funds pared back one of their favorite trades — leveraged bets on the greenback’s gains — to the least in more than four months last week. That left the currency wide open for a rebound, amplifying the dollar’s surge on the back of President Donald Trump’s vow to overhaul the U.S. tax system.
