Hedge funds are reportedly shorting the dollar as fears rise over its status as the world's number one currency

Reuters

• Hedge funds are net short against the dollar for the first since May 2018 amid extreme weakness, Bloomberg reported Monday. 
• The greenback has fallen about 6% against the euro alone since the start of the year.
• Big government and central bank spending has pushed interest rates down and weakened the dollar. 
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Hedge funds are shorting the dollar and are bearish on the greenback for the first time since May 2018 in the latest sign that the world's top reserve currency is declining further and unlikely to bounce back any time soon. 

Bloomberg reported Monday, citing data from the Commodity Futures Trading Commission, that net futures and forward positions held by leveraged funds against eight currencies not including the dollar, fell to negative 7,881 contracts last week.

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