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Everyone’s a Dollar Bull as Taper Makes U.S. Currency a Top Bet
The dollar is starting to look unbeatable in the coming months as an anticipated tapering of stimulative asset purchases by the Federal Reserve, seasonal demand and energy-driven instability unleash a wave of bullish bets on the U.S. currency. Evidence of the greenback’s dominance is rampant across markets at the moment. Its value against the yen is at a December 2018 high, while CFTC data shows leveraged funds are the most bullish in over a year. Plus, risk reversals, which compare the costs of options, for the Bloomberg Dollar Index show investor sentiment is near the strongest since the pandemic’s first wave. ... (full story)
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