Investors bet US dollar has further to fall

Financial Times/Jenniger Luges, Mary McDougll and Kate Duguid/4-18-2023

“After an 18-month bull run that took it to a 20-year high against a basket of currencies in September last year, the greenback has been in retreat as analysts have scaled back their expectations of US interest rate rises. Last week the dollar hit its lowest level in a year against the euro, as well as against the broader currency basket.”

USAGOLD note: A very dovish BoJ rate policy has kept the dollar from declining even further, faster over the short run……But that damper might wear off over the next few weeks. Professional traders have doubled their short positions in the greenback, reports FT.