Hedge Funds Misread Fed With Bullish Dollar Bets at 7-Month High

(Bloomberg) Hedge funds and other large speculators raised bullish dollar wagers to a seven-month high before the Federal Reserve scaled back the outlook for rate increases in 2017 at last week’s policy meeting.

Wagers for the dollar to gain against seven major peers jumped by a third to a net 150,620 positions in the week to Sept. 20 compared with the previous period, according to the latest data available from the Washington-based Commodity Futures Trading Commission.

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