Dollar Bulls Face Perilous Start to Second Half as Payrolls Loom
- Greenback’s 4 month losing streak wipes out post-election gain
- Hedge funds bearish on dollar for first time since May 2016
Dollar Weakens Amid Positive and Negative Data Surprise
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After the worst start to a year for the greenback since 2006, the end of the first half couldn’t come quick enough for the dwindling ranks of dollar bulls. Yet if history is any guide, it could soon get even worse.
A week that’s certain to get off to a slow start with U.S. markets closed Tuesday will culminate with Friday’s jobs report. The release hasn’t been kind to those wagering on greenback strength. The Bloomberg Dollar Spot Index has slumped in the aftermath of nine of the past ten, despite above consensus reports as recently as February, March and May.