HEDGE funds are ratcheting up wagers on the Australian dollar - in both directions - after it became the most-volatile Group-of-10 currencies in the past month. "It's one of the best times to trade," said Nader Naeimi, who has short positions on the currency at the dynamic market fund he manages at AMP Capital Investors Ltd. "A lot of the good news is priced in the Aussie now so there's room for disappointment. That said, it's still so influenced by risk-on, risk-off sentiment, so it gives you room to trade."