Hedge funds turned bearish on the Swiss Franc just one week after boosting long bets, amid speculation the central bank is no longer supporting the currency with purchases and could even lower interest rates soon.
Weekly positioning data from the CFTC show leveraged funds — a group of market players including hedge funds — became net sellers of the franc in the week ended Feb. 6. It’s an abrupt change from the prior week, when the market was the most long it’s been since November.