Speculators’ net long positioning on the U.S. dollar in the latest week soared to its highest level since mid-June 2019, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday.
The dollar nursed losses on Wednesday as progress in developing a novel coronavirus vaccine and expectations for a fiscal boost from a new U.S. government triggered a shift of funds from the greenback to riskier assets.
The dollar has moved from a supporting role to a featured player this earnings season, a boon to U.S. multinationals which have benefited from the biggest quarterly year-on-year decline in the greenback in three years.
