Forex: Hedge funds buy USD, trend may last - FXWW

FXstreet.com (Barcelona) - On the back of big inflows favoring the US Dollar, best represented by the USD index, which rose to test levels close to 83.50 resistance for a second time since the first failed attempt on April 4, FXWW founder Sean Lee, notes hedge funds have been recently busy piling into USD long positions.

Sean went on to say: "Hedge funds were big buyers of the USD towards the end of last week and once these big players all start trading in one direction, the trend can last for quite some time."