BLBG: Futures Traders Raise Bets on Australian Dollar Drop Vs Dollar
By Dave Liedtka
October 24 (Bloomberg) -- Futures traders increased their bets that the Australian dollar will decline against the U.S. dollar, figures from the Washington-based Commodity Futures Trading Commission show.
Futures are agreements to buy or sell assets at a set price and date. The figures reflect holdings in currency-futures contracts at the Chicago Mercantile Exchange as of Tuesday.
Each Friday the CFTC publishes aggregate numbers for long and short positions for speculators such as hedge funds and institutional investors that buy or sell futures to protect against price moves. Analysts and investors follow changes in speculators' positions because such transactions can reflect an expectation of a change in prices.
To contact the reporter responsible for this story: Dave Liedtka in New York dliedtka@bloomberg.net
