Fund Managers Are Turning Ever More Pessimistic on the US Dollar
- Short dollar positions are at most since July 2021: CFTC data
- “The dollar’s exceptionalism premium is receding:” Bromhead
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Asset managers are turning ever more bearish on the dollar amid bets that the Federal Reserve may be approaching the peak of its interest-rate hike cycle.
Investors boosted short positions on the reserve currency to 321,758 contracts last week, the most since July 2021, according to data from the Commodity Futures Trading Commission on eight currency pairs compiled by Bloomberg. Hedge funds are similarly bearish: they sold the greenback for a fifth straight week.