LONDON, Nov 14 (Reuters) – Hedge funds retreated from currency markets in October because they lost money on short dollar positions, but have since returned and are now betting on higher levels, industry officials said.
Hedge funds have lost or made no money in forex markets for much of this year as they’ve been selling the dollar which, against their expectations, has been rising, partly because of U.S. companies repatriating their profits.
The Homeland Investment Act gives a tax break to U.S. companies that repatriate profits to invest in the United States.
