Hedge funds are reloading their brief greenback bets – with a number of new twists – forward of US Federal Reserve chairman Jerome Powell’s extremely anticipated keynote speech on the central financial institution’s annual Jackson Gap convention on Friday, August 22.
Garth Appelt, head of derivatives, FX and rising markets macro buying and selling at Mizuho Americas, says the financial institution is seeing renewed curiosity from hedge funds in euro/US greenback name choices with far out-of-the-money strikes, which he describes as “lottery ticket”
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