October 14, 2024

Asset Managers Ramp Up Bullish Bets on Aussie to Most Since 2021

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Institutional investors turned most bullish on the Australian dollar since March 2021 as signs the nation’s central bank will keep interest rates at elevated levels and China’s stimulus push revived confidence in the currency.

Asset managers flipped to a net long Aussie dollar position in the week ended Oct. 8, according to Commodity Futures Trading Commission data. That’s after being bearish on the currency since Feb. 2023.

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