http://www.bloomberg.com/apps/news?pid=20601087&sid=anL286vy_iZM&refer=worldwide
Futures Traders Bet on Dollar Gain For First Time Since 2005
By Bo Nielsen and Ye Xie
May 2 (Bloomberg) -- Futures traders are betting for the first time
since December 2005 that the dollar will gain against the euro.
The difference in the number of wagers by hedge funds and other large
speculators on a decline in the euro compared with those on a gain,
known as net shorts, was 21,315 on April 29, compared with net longs
of 18,907 a week earlier, figures from the Wa****ngton-based Commodity
Futures Trading Commission show.
``The dollar has already turned against the euro,'' said Benedikt
Germanier, a currency strategist at UBS AG in Stamford, Connecticut.
``The dollar will go to $1.52 in a straight line.''
The dollar increased 0.3 percent to $1.5424 per euro at 5 p.m. in New
York, from $1.5474 yesterday. It touched $1.5361, the highest level
since March 24.
The dollar rose 1.3 percent against the euro this week, its biggest
rally since March, and has appreciated 3.6 percent from a record low
of $1.6019 reached on April 22. It's the first time the dollar has
posted two weeks of gains since December.
|
