Betting against the Saudi currency: The world’s reserve currency of choice, used heavily if not almost exclusively in for Middle Eastern oil trading, is in short supply, says a leading regional bank, as a change in the regional currency peg could benefit hedge funds. National Bank of Abu Dhabi says “there is a dollar shortage” Alex Thursby, CEO of the National Bank of Abu Dhabi PJSC, the United Arab Emirates’ largest bank, says “there is a dollar shortage” amid liquidity tightening in the region ravaged by lower oil prices. “It’s not a crisis, but it is tightening,” Thursby was quoted as…
Hedge Funds Bet On Saudi Currency Drop As Region Feels Oil Price Pinch
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.