Traders put on US$1.2 bln of bets shorting kiwi dollar, may have the opposite effect

Mon, 02 Jul 2018

By Jonathan Underhill July 2 (BusinessDesk) - Traders have bet US$1.2 billion that the kiwi dollar will fall against the greenback, adding to the risk of a corrective rebound even though US interest rates are unusually higher than those in New Zealand. Latest data from the Commodity Futures Trading Commission (CFTC) shows that speculative traders' net positions are short NZD and long US dollars to the extent of US$1.2 billion, at levels reached only a few times since 2010. Going short means betting on a currency to decline. A trader may b...

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