Divergent ideas and opinions. Its what makes a market, right?
BoA / Merrill Lynch:
– Hedge funds’ long position in the U.S. dollar remains substantial relative to the past 12 months and to other investors
(Note – BoA says ‘real money’ (eg. pension funds, real estate investment trusts, smaller asset managers etc.) often use forex positions to carry out trades in equities or debt, and therefore they may not be expressing a view on the currency itself