Hedge fund positioning: Long USD, short equity indices

Some extensive research out of the interbank world is showing some interesting facts regarding hedge fund positioning

• Bigger hedge funds are very long of the USD against both the EUR and the GBP and are looking to add to existing positions, according to this research. Interestingly, they are now almost neutrally positioned in the CHF, coming from an overly long position.
• Hedge funds remain quite short of US equity indices such as the S&P 500 but these shorts have been aggressively reduced over the last 3 weeks.