Asset Managers Turn Long Aussie for First Time Since Late 2024

Institutional investors have turned long the Australian dollar for the first time in more than a year, driven by the combination of a hawkish Reserve Bank and weak greenback.

After holding a net short position since October 2024, asset managers are now of the same bullish view as their leveraged peers, according to US Commodity Futures Trading Commission data for the week through Feb. 17. Leveraged funds had already flipped to a long bias in December.