Hedge-Fund Managers Prefer The Dollar

Bloomberg reported that the U.S. dollar remains the favored currency of hedge-fund managers with the Brazilian real a “distant second,” according to a survey by TrimTabs Investment Research, and BarclayHedge.

The report said “Hedge fund managers overwhelmingly favor the U.S. dollar in the short term. This confirms other sentiment surveys, and is consistent with aggressive buying of U.S. dollar index futures by speculative traders.”

57% of survey respondents were bullish on the greenback over the next three months, while 11.5% favored the real, the survey said. The yen and an “other” category led by the Australian dollar were each preferred by 8.2%, and the Canadian dollar was favored by 6.6%. The euro was preferred by 4.9%.