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U.S. dollar net shorts hit an all-time high since July 2021
The U.S. dollar short position has been raised to its highest level over the last week. Its previous peak dates back to July 2021. This is reported by Reuters, citing the U.S. Commodity Futures Trading Commission (CFTC).
The value of the short position stood at $1.82 billion between November 15 and 22. Earlier, the price reached $10.5 million, well below the previous level.
Investors have trimmed the volume of long dollar positions, anticipating that the U.S. currency might weaken. This is explained by the market forecasts on a slower pace of interest rate hikes by the U.S. Federal Reserve System (Fed). Notably, the regulator's previous meetings ended with four consecutive rate rises of 75 basis points.
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