This mirrors a rebound in the US dollar last week. However, data for the week May 3-May 10 also confirms that investors still remain overwhelmingly bearish on the dollar. Net short dollar positions are still at record lows versus a global basket of currencies (see graph).
Dollar shorts were cut savagely, but that still leaves short positioning “excessive” and the dollar near historic lows, said RBC Capital Markets in a research note dated May 13. USD net shorts tumbled....
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