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One of hedge fund billionaire Ray Dalio's strategies is up 14% year-to-date thanks to a bet against the euro, Bloomberg News' Kelly Bit reports, citing a source familiar with the fund's performance.
The euro fell to its lowest level in a decade during the first three months of 2015, ending the quarter down 11% against the US dollar.
Bridgewater Associates, the world's largest hedge fund, manages about $165 billion in assets. Earlier this year, Dalio explained that his fund makes numerous uncorrelated long/short bets in about 120 markets.
SEE ALSO: Here's Ray Dalio's attempt at explaining how he makes money
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