Bank of America survey: The dollar is facing the biggest bearish trend in 19 years

Odaily Planet Daily News: Bank of America's global fund manager survey released on Tuesday showed that global fund managers' bearishness on the US dollar in May reached the highest level since 2006. This reflects that US President Trump's chaotic trade policy has weakened investors' interest in US assets. Bank of America said: "Before the Geneva meeting, investor sentiment was low, especially pessimistic about US assets. Although the May survey showed that market sentiment improved slightly from April, it was still very negative, indicating that the 'pain trade' may rise slightly." The report showed that fund managers reduced their cash holdings from 4.8% to 4.5%, which is often seen as a sign of increased confidence. But their reduction in US dollar holdings has reached the highest level since May 2006. Bank of America pointed out that 75% of the data in this survey was collected before the Geneva talks. (Jinshi)