The dollar met bids last week as the docket saw retail sales data and the ECB monetary policy meeting. Also, demand derived from the upcoming U.S. election was reported by several desks
Here, we noted hedge funds closing its net short dollar position. As of our last reading, the dollar has plenty of room to gain from a positioning perspective, the % of open interest from the hedge fund community remains below its 5-year average
Our measure of the dollar against G10 peers is extending gains on Monday session, the gauge is now at the highest level since early August. So far, this month is recording the best performance from the dollar since May 2023
Comentarios