Fund Managers Flip-Flop Into Bullish Dollar Bets After Bear Run
- Long USD positions were 3rd most crowded in June: BofA survey
- Reverses May stance, when short USD was the 3rd most popular
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Investors have done an about-face on the dollar.
Fund managers crowded into bullish bets on the greenback this month, making it the third-most popular trade across financial markets, according to a survey by Bank of America Merrill Lynch Global Research. That’s a flip-flop from May, when bearish wagers on the currency were in the third slot behind long bets on technology stocks and short positions in U.S. Treasuries.