The Australia dollar defied has defied expectations by holding up during the market turmoil caused by Russia’s invasion of neighbouring Ukarine, causing huge fund managers to reverse their bearish stance, according to a report by BloombergQuint.
The Australia dollar defied has defied expectations by holding up during the market turmoil caused by Russia’s invasion of neighbouring Ukarine, causing huge fund managers to reverse their bearish stance, according to a report by BloombergQuint.
Leveraged funds slashed
The latest data from the Commodity Futures Trading Commission reveals that leveraged fund cut net-short futures and options positions on the currency by more than 70 per cent during the week ended 15 March.
From adopting their most bearish stance since 2016 just a week earlier, net purchases reached their highest level in a decade, according to then report.
