Hedge funds ramp up bets against the US Dollar

Hedge funds are increasingly positioning for further U.S. Dollar weakness.
One-month risk reversals on the Bloomberg Dollar Spot Index have fallen to -0.25, their lowest since February, signaling stronger demand for bearish Dollar options.
The same metric was positive from March through July, marking a sharp reversal in positioning.
Demand for Dollar puts versus the Euro was also 47% higher than demand for Dollar calls on August 21, according to DTCC data.
Meanwhile, the Bloomberg Dollar Spot Index has fallen 2.8% over the past two months to its lowest level since May.
The FX market is increasingly betting that Dollar weakness has further to run.