The Dollar Is Hedge Funds' favourite Currency Right Now

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The majority of hedge fund managers surveyed say their favourite currency right now is the dollar.

The TrimTabs/Barclay Hedge survey in February asked 61 traders and fund managers (that have an average of $113 million in assets under management) what their favourite currencies were.

The dollar won the majority, with 57% voting it as their favourite, the Brazilian real and the Australian dollar are “distant seconds,” and Sterling was the least favourite, with only 3% of respondents.

The Wall Street Journal points out that their favouring the dollar likely means hedge fund managers don’t expect interest rates to rise any time soon.

A survey taken a couple of weeks ago reveals concurring data: most hedge fund managers don’t think rates will rise until after 2011.

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