Traders Turn Positive on US Dollar for First Time This Year

Traders turned positive on the US dollar for the first time this year as war in the Middle East jolts energy costs higher and supports the currency’s status as a haven.

Hedge funds, asset managers and other speculators have taken on $6.2 billion worth of wagers that the dollar will strengthen as of March 17, according to Commodity Futures Trading Commission data released on Friday and compiled by Bloomberg. They’d been holding bets on a weaker currency since mid-December.