HSBC Says Dollar Nears Bottom as Selling Shows Signs of Bubble

Relentless dollar-selling is starting to look like a bubble — and, like all bubbles, it will eventually pop, according to HSBC Holdings Plc strategists.

Traders appear to be fixated on the dollar’s steep decline this year, and tempted to extrapolate that to future performance, HSBC strategists led by Paul Mackel wrote in a research note. That’s symptomatic of “bubbly-like” behavior, they said.