Hedge Funds Boost Aussie Long Positions as RBA Keeps Tightening

Leveraged money managers lifted their bullish bets on the Australian dollar to the highest level in over eight years, wagering that projected gains in bond yields will cushion near-term volatility.

Hedge funds and other large speculators increased net-long positions by 43% to 57,115 contracts in the week ended Feb. 3. The level was the highest since late 2017, according to Commodity Futures Trading Commission data.