HeadlinesBriefing favicon HeadlinesBriefing.com

Hedge Funds Increase Dollar Shorts Before Fiscal Plan

Bloomberg Markets •
×

Hedge funds are ramping up bearish dollar bets as they await more details on Treasury Secretary [PERSON_NAME]’s new fiscal plan to address the highest borrowing costs in years. That pressure was evident on Friday, when the dollar extended a drop triggered by [PERSON_NAME]’s Aug. 19 decision to increase the size of buybacks for longer-dated securities “by at least double.” The announcement sparked the dollar’s worst single-day decline in nearly three weeks and triggered a wave of selling across the cash market. The dollar was little changed in [ADDRESS] on Monday.