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Currency funds on worst streak in three years

Traders fail to capitalise on volatility that's surged to the highest level since 2011

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COUNTING THE COST: The US dollar has fallen 2.1 per cent against the euro in 2016, upending analysts' projections from the beginning of the year that called for the US currency to strengthen against the euro.

New York

IT was another rough month for currency-focused hedge funds.

A gauge of returns in the US$5.3 trillion a day foreign exchange market extended its longest losing streak in almost three years as traders failed to capitalise on volatility that's surged to the highest since