Funds on longest streak betting against Brazil’s real in almost a year – CFTC

The real is down 3.5% this year, among the top 10 worst-performing currencies against the dollar so far in 2021, according to Refinitiv data.

RIO DE JANEIRO, BRAZIL - Funds and speculators on U.S. futures markets increased their bearish bets against the Brazilian real for a fifth week in a row, the longest streak in almost a year, data showed on Friday, February 12th.

The latest Commodity Futures Trading Commission (CFTC) data on Friday showed that funds increased their net short position by 2,917 contracts to 17,366 contracts in the week to February 9th, the biggest net short in two months.

To short a financial asset is to bet that it will decline in value.

After plunging 30% against the dollar last . . .

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