Bearish US dollar index (DXY) bets near decade high as 2020 draws to an end – Bloomberg
Early Tuesday, Bloomberg came out with any analysis, based on non-commercial positions in futures linked to the Intercontinental Exchange (ICE), portraying the US dollar’s broad weakness.
The analytical piece initially cites data from the Commodity Futures Trading Commission (CFTC) to confirm that the net short non-commercial positions in futures linked to the ICE US Dollar Index (DXY) have surged to the most since March 2011.
While emphasizing the 6% drop of the greenback’s gauge, the piece quotes analysts from Goldman Sachs as saying, “We see depreciation in the dollar continuing into 2021. Liquidity dynamics and virus news flow may influence the timing of dollar weakness, but not necessarily the medium-term downtrend.”
DXY remains pressured…
DXY bears the burden of risk-on sentiment while flashing 0.20% intraday losses to 90.11 by press time. In doing so, the US dollar barometer drops the most after the last Wednesday.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.