🔺 Hedge funds continue to ramp up bets on a stronger dollar against key global currencies. This is because the US Federal Reserve is set to start raising interest rates next year.
😯 The net speculative position in the dollar reached 13.9% since 2019.
🇳🇿 The only currency on which hedge funds maintain a long position remains the New Zealand dollar. It could benefit from increased demand for coal in China.