Big investors are more bearish about the prospects for the dollar than at any time in nearly two decades, according to data that underlines the hit to US assets from Donald Trump’s trade war.
A net 61 per cent of respondents to Bank of America’s Global Fund Manager Survey expect the dollar to depreciate over the next 12 months, the most since May 2006.
The dollar has tumbled 9 per cent this year against a basket of major currencies, a fall that accelerated since Donald Trump announced “reciprocal” tariffs at the start of the month.
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