Dollar Has Its Worst Week Since 2022 as JPMorgan Turns Bearish
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A gauge of the dollar finished its worst week in over two years as traders turn sour on US exceptionalism, giving rise to expectations that trade policies will slow down growth in the world’s biggest economy.
The Bloomberg Dollar Spot Index fell 2.3%, the biggest weekly decline on a closing basis since November 2022. Speculative traders, including hedge funds and asset managers, have been reducing their bets on the dollar for seven straight weeks, data from the Commodity Futures Trading Commission through March 4 showed. They are the least bullish on the dollar since October, before the US presidential elections.