COT: Dollar long jumps on CHF, CAD, GBP sell wave
Sterling was already under pressure before prime minster Theresa May said the
UK would be boarding the EU exit bus no later than March 31, 2017. Photo: iStock
By Ole Hansen
Hedge funds increased bullish IMM dollar bets by 31% during the week ending September 27. The rise in the gross dollar long to a seven-week high was driven by heavy selling of CHF, CAD and not least GBP.
Ole Hansen is head of commodities strategy at Saxo Bank