BULLISH: Speculators are growing more positive on the dollar’s prospects, and while futures make up only a small part of the $6.6-trillion forex market, they provide an important proxy of investor sentiment. Picture: Bloomberg/Xaume Olleros
BULLISH: Speculators are growing more positive on the dollar’s prospects, and while futures make up only a small part of the $6.6-trillion forex market, they provide an important proxy of investor sentiment. Picture: Bloomberg/Xaume Olleros

Investors have been warming to the greenback since the Federal Reserve indicated last month that interest rates could rise earlier than previously thought. Now there are signs that dollar bears are throwing in the towel as the US currency builds on its gains. Bullish wagers on the dollar have jumped sharply this month, with the net long position of speculators on the dollar index reaching its highest level in more than a year.

Financial Times

Zoom swoops

Zoom Video Communications, the video conferencing start-up whose services became globally popular during the pandemic, has agreed a deal to buy cloud software provider Five9 for about $14.7bn in its first major acquisition. The all-stock deal with Five9, which offers call centres via cloud computing, will help expand the company’s Zoom Phone offering. It comes as the San Jose, California-based company prepares for a post-pandemic slowdown following its explosive growth in 2020.

Financial Times

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